MacroEnergyA Missile Just Hit a Tanker Six Miles From Kharg Island — Iran's Only Untouched Oil Lifeline Just Got Closer to the Line
A Missile Just Hit a Tanker Six Miles From Kharg Island — Iran’s Only Untouched Oil Lifeline Just Got Closer to the Line
For six months, Washington has drawn a hard line around Kharg Island’s terminal itself, even while bombing its defenses. Iranian state media reported missiles struck a tanker about six miles (10 kilometers) from Kharg Island, home to a terminal through which the country exports most of its oil. That’s the closest the war has come to the actual loading jetties CSIS estimated could add roughly $10 per barrel, with prices surging above $100 if disabled. If this expands from tankers to terminal, the market repricing happens before anyone confirms damage.
#Iran #KhargIsland #CrudeSupply #OilGeopolitics #StraitOfHormuz
Iraq Just Doubled Its Hormuz Oil Flows — By Getting Iran’s Own Blessing to Pass and Discounting the Barrels
While the market fixates on tanker attacks, Iraq quietly rebuilt its export flow through the same strait. Iraq more than doubled its crude oil exports via the Strait of Hormuz in August as it offered mouth-watering discounts for loadings at Basrah and Iran allowed Iraqi oil cargoes to transit the chokepoint. Basra loadings climbed from an average of 1.9 million bpd by August 26, up sharply from about 100,000 bpd in May. Discounted Basra barrels are now the pressure valve capping the war premium other Gulf grades try to charge — complicating OPEC+’s Q4 output math.
#Iraq #StraitOfHormuz #SOMO #CrudeSupply #OilGeopolitics
Dangote’s $1.5 Billion Refinery IPO Opens in 9 Days — Priced for a War Premium That Might Not Last
Africa’s biggest refinery is going public at the exact moment Gulf disruption is inflating its margins. Dangote Group is planning to price the IPO at 525 naira per share, potentially raising about $1.5 billion, with the order book opening September 14, and the refining industry has benefited from stronger profits as turmoil in the Middle East boosted demand for alternative fuel supplies. The pitch to investors bakes in elevated crack spreads and jet fuel scarcity as durable. A Hormuz de-escalation compresses exactly the margin story the roadshow is selling.