FACTBOX: Hormuz oil flows still at a standstill despite US insurance pledge

Oil and shipping flows through the Strait of Hormuz remain stalled despite a US insurance pledge, as recent attacks and security threats keep vessel traffic at a near standstill. “The situation remains fluid, but what’s clear is that prolonged conflict is very bullish for cracks across the barrel in all hubs, and especially for European distillates,” said Rebeka Foley, oil analyst at S&P GlobalOil and shipping flows through the Strait of Hormuz remain stalled despite a US insurance pledge, as recent attacks and security threats keep vessel traffic at a near standstill. “The situation remains fluid, but what’s clear is that prolonged conflict is very bullish for cracks across the barrel in all hubs, and especially for European distillates,” said Rebeka Foley, oil analyst at S&P GlobalRead More