The Price of War for Oil Giants

How much have the region’s largest companies already lost? The stable energy system of the Persian Gulf has begun to malfunction since the start of the war around Iran. In less than two weeks, traffic through the Strait of Hormuz has dropped by around 97%, paralyzing the main energy corridor — through which up to 20 million barrels of oil and 20% of global LNG trade passed daily. Lost oil supplies from Persian Gulf countries are estimated at up to 15 million barrels per day, while around 1.9 million barrels of refining capacity has been temporarily shut down. 🔻 Who…