Saudi Arabia's Saudi Aramco, the world's biggest oil exporter, warned on Tuesday that global oil markets could face "catastrophic consequences" if the Iran war continues to disrupt tanker traffic through the Strait of Hormuz.
Oil shipments have been largely blocked from traversing through the shipping artery, where, normally, roughly 20% of the world's oil would pass daily. Iran's βRevolutionary Guards said on Tuesday they would not allow "one liter of βoil" to β be shipped from the Middle East if U.S. and Israeli attacks continue.
"There would be catastrophic consequences for the world's oil markets and the longer the disruption goes on ...
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