The energy crisis is worsening


➡️ Shell CEO Wael Sawan warned that oil and LNG shortages could last for months and potentially into 2027, with around 900M barrels of oil already lost over the past two months
➡️Inventories have been used to fill the gap, but those buffers are now running low
➡️Enterprise Products Partners also warned that markets may be underestimating the impact of a prolonged Hormuz closure
Depending on the scenario, 12M to 15M barrels per day of crude, refined products, propane, and petrochemical supply could be constrained
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The disruption is now spreading beyond energy markets:
➡️California is seeing severe jet fuel pressure, with Asian exports to the state near decade lows
➡️Japan is facing supply risks for Toyota suppliers, with concerns around naphtha-derived products and aluminium. Even if the Strait reopens, shortages could last for months
➡️Peru may need more than $2B in private funding to avoid domestic fuel shortages because of higher crude costs
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