Saudi Disruption: The Latest Event
The Arabian Gulf ("AG"), or Middle East Gulf ("MEG"), has been a hot spot over the past year, including seized tankers and drone shoot-downs. Tensions were already increasing, but they exploded over the weekend with an attack on key Saudi oil infrastructure knocking out up to 6% of global oil capacity. Regardless of who is responsible, and even before any retaliatory measures are taken, this latest event represents a monumental increase in global oil supply uncertainty unlike anything we've ever seen before.
According to the International Energy Agency data