Iran Built a Velvet Rope Around 21% of Global Oil
Iran Built a Velvet Rope Around 21% of Global Oil Pertamina, Indonesia’s state energy company, has confirmed that two of its tankers have been sitting motionless in the Persian Gulf for over three weeks. The cargo is paid for. The vessels are seaworthy. But no insurer will cover the transit, and no IRGC escort approval has come through. The oil Indonesia already bought is stranded roughly 40 nautical miles from open water. ...