Diesel Near $200 per Barrel in Singapore Puts Biofuels and Renewables Back in the Picture
Energy markets continue to reprice geopolitical risk as security in the Strait of Hormuz deteriorates. Reports circulated that three different classes of vessels including container ships, bulk carriers and tankers were attacked while transiting the strait, signaling that the disruption risk extends beyond crude cargoes to the entire maritime logistics system. Later reports indicated that Iran granted permission for Indian tankers to pass through the strait, suggesting that the waterway is not fully closed but rather operating under selective navigation permissions.
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