Follows the Caution of the Shipping Companies About the Reopening of Ormuz, Says Expert
4 Articles
4 Articles
Both logistics markets and insurers maintain caution after the peace agreement in the Middle East, said Astrid Karam, vice president of Navy Cargo Logistics and Aviation of Marsh Mexico.
The reopening of the Strait of Ormuz marks a major geo-economic turning point. For the countries of the Central African Economic and Monetary Community (CEMAC), which are highly exposed to global energy shocks, the event acts as an expected stabilizer. This maritime corridor sees almost 20% of the world's oil transit. Its paralysis had caused an increase in the prices of oil and...
The reopening of the Strait has led to a fall in oil prices, but political uncertainty and insurance costs remain an obstacle for shipping companies and delay the full revival of trade flows. In the longer term, shipowners and states, especially those in the Gulf, seek to invest in alternative routes while Tehran intends to control this strategic artery, explains analysts in the daily East-Le Jour.
The price of Brent oil, of reference in Europe, could return to the area of 60 dollars per barrel, as at the beginning of the year, within six months to one year after the reopening of the Strait of Ormuz by the agreement between the United States and Iran. After exceeding 126 dollars during the conflict, the Brent is currently listed below 80 dollars. The prospect of a reopening of Ormuz - where 20% of the world's oil transited - and the progre…
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