Gunvor Boss Is Confident Mideast Conflict Won’t Hurt Oil Supply

From bnnbloomberg.ca

Gunvor Group’s chairman and co-founder said he’s confident the escalating conflict in the Middle East won’t hit crude supply from the region. “I’m very confident that this will not have any impact at all on oil supply,” Torbjörn Törnqvist said at a conference in Fujairah in the United Arab Emirates. It “seems the market is more focused on concerns about the lack of growth in oil demand.” The crude market has been largely unaffected by the tensions in the Middle East over the past year as physical shipments haven’t been hit. Houthi attacks on vessels in the Red Sea in retaliation for Israel’s war ... (full story)