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“We're Living On An Oil Market Credit Card”: Analyst Sounds Alarm
The oil market is living on borrowed time as flows through the Strait of Hormuz remain disrupted and the cushions such as stock draws and low Asian demand are running thin, according to Saul Kavonic, Senior Research Analyst at MST Marquee. “We are living on an oil market credit card, we can’t draw stocks forever,” Kavonic told CNBC on Tuesday. Large releases from reserves and China’s very low imports are no longer there to offset some of the supply lost at the Strait of Hormuz. “All these things are allowing the market…
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