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Hormuz Normalization Begins As Saudi Supertankers Exit And A Flood Of Persian Gulf Oil Heads For Asia
Hormuz Normalization Begins As Saudi Supertankers Exit And A Flood Of Persian Gulf Oil Heads For Asia
Energy flows through the Strait of Hormuz are beginning to restart on Thursday after the interim U.S.-Iran peace deal, with several Saudi-controlled supertankers transiting the critical waterway and exiting the Persian Gulf.
There is a massive backlog of crude and LNG tankers in the Persian Gulf, preparing to exit the Hormuz chokepoint bound for Asia. Bloomberg says 31 supertankers, carrying about 62 million barrels of crude, could soon exit.
The actual number of crude...
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J&J's Proposed $5.5 Billion Talc Settlement May "Lift Remaining Overhang" On Shares, Says Guggenheim
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Johnson & Johnson announced late Monday that it had reached an agreement to commit $5.5 billion to resolve most lawsuits alleging its talc products caused ovarian cancer. The settlement could end 15 years of litigation and "lift the remaining overhang" on J&J shares, according to one institutional trading desk.
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