⟳ Репост от Josh Busby
Costa Samaras

Again, every war game and natsec briefer since the 1970s said: stove hot, no touch.

Rory Johnston

10-day average Hormuz-exiting oil flow has fallen below 3 MMbpd. That's down ~80% from late June's peak of more than 15 MMbpd. Feels silly to say five months into this, but that's not enough oil.