๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ฎ๐Ÿ‡ท๐Ÿ‡ฆ๐Ÿ‡ช The Hormuz closure is the biggest oil supply shock since 1973.

And after exhausting every single alternative:

- OPEC spare capacity: used
- Emergency stockpiles: tapped
- Sanctioned oil: unlocked
- New pipelines: online
- Biofuels: maxed out

The world is still 5 million barrels per day short, and there is no backup plan left.

The UAE already quietly walked out of OPEC over this.

When the second-largest Gulf producer stops playing along, something big is breaking underneath the surface.

Source: The Merchantโ€™s News via Substack
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