The physical crude oil market is out of control.
The cost to ship 2 million barrels of crude oil from West Africa to China is now up to $27.22/barrel.
To put this into perspective, in July, the cost for the same shipment ~$6.50/barrel.
That's a +319% surge in shipping costs in just over 2 months.
The scramble for physical crude inventories is in full-swing.
The Orthodox Church in Gaza mourns and bids farewell to Maisa Dawood and her daughter Mary, after they were killed in a bombing that targeted their residential apartment west of Gaza City while they were sleeping.
كنيسة الروم الأرثوذكسية في غزة تنعى وتشيّع ميساء داوود وابنتها ماري، بعد مقتلهما إثر قصف استهدف شقتهما السكنية غربي مدينة غزة أثناء نومهما.
وشيّعت الكنيسة جثماني الأم وابنتها، بحضور العائلة وأبناء الطائفة، وسط أجواء من الحزن.
BREAKING: 🇺🇸 In addition to diesel, a shortage of motor oil has begun in the US due to the war with Iran
Costco is now rationing motor oil for due to the Iranian war, limiting members to one transaction and a maximum of two units every seven days, per The Drive