TODAY'S MARKET INTELLIGENCE
JPMorgan: Global Tanker Shortage Drives Oil Price Pressure as Hormuz Traffic Surges
English summary
JPMorgan notes that October oil price pressure stems from tanker shortages rather than crude supply deficits. Hormuz traffic surged from 7.5 million bpd in July-August to 12 million bpd in September, pushing global VLCC utilization above 80%, raising delivery costs and squeezing European refining margins.
The English text is machine translated and may require verification against the Chinese version.
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