Keep pulling the thread on Alex Turnbull.
As of April 9th, only two ships have passed through the Strait of Hormuz, a level described as "basically nothing" compared to normal traffic.
Most of Asia's crude oil supply originates from the Middle East, making the region highly exposed to disruptions like the closure of the Strait of Hormuz.
China is using targeted energy exports to gain geopolitical leverage with countries like the Philippines and Vietnam, with whom it has territorial disputes in the South China Sea.
Japan is accelerating its nuclear reactor restart program in response to the current energy crisis, a move supported by strong public polling.
The time BYD electric vehicles spend on dealer lots in markets like Australia and Singapore has dropped from over 25 days in January to single-digit days currently.
The East-West pipeline, a key alternative for oil transport from the Middle East, appears to have sustained significant damage in the last 48 hours.
In Australia, the proliferation of residential battery storage has subdued intraday power price spreads and caused natural gas consumption for power generation to collapse.
The cost of gas turbines, used in both power plants and data centers, has more than doubled from approximately $1,000 per kilowatt to over $2,500 per kilowatt.
Due to high equipment costs and escalating geopolitical risks, many countries will likely reconsider building their power grids to be dependent on LNG.
Alex Turnbull believes Iran's IRGC is on the verge of inflicting a major geopolitical defeat on the United States and will likely succeed in establishing a toll on the Strait of Hormuz.
Even in a best-case scenario, ship traffic through the Strait of Hormuz might only recover to 10 to 15 vessels per day, which is still significantly below normal levels.
Official Selling Prices (OSPs) for Saudi Arabian crude loadings from Yanbu are trading at a premium of $20 to $25 above the prevailing Brent contract.