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The Energy Crisis Is Moving Downstream
Source: seekingalpha.com
Energy Markets & PricesGeopolitics & WarTransportation & Logistics

Middle East crude exports have recovered to 17.5 million barrels per day, approximately 98% of pre-war levels, according to JPMorgan estimates. However, Strait of Hormuz flows remain constrained at roughly 13 mb/d, versus 17.1 mb/d before the war, leaving a key geopolitical shipping chokepoint operating about 24% below normal.
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