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Strait of Hormuz "Best Case Scenario" Involves Years of Structural Issues
Description
Even if conflict around the Strait of Hormuz ends soon, the existing damages to energy infrastructure in the Middle East have Ellen Fraser maintaining a bearish crude oil outlook. Her "best case scenario" is if the strait opens soon and infrastructure repair follows immediately after. Kenny Zhu talks about the concept of "spare capacity" and why oil supplies face long-term constraints compared to historical examples.
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