Palisades Gold Radio · Monday, August 10, 2026
The speaker, Peter Carlin, notes that the basic assumption of U.S. military power securing the Straits of Hormuz has been shattered. This, along with damage to global infrastructure and restricted passage in the Red Sea, is causing tight crude oil and products markets. He also highlights a sizing problem with Very Large Crude Carriers (VLCCs) unable to transit the Suez Canal, leading to complex and costly unloading procedures.
“the basic assumption that the streets of Hormuz was secured by the US military's power has now been shattered and and that situation is now over.”
“Um, obviously we've had a lot of movement in the, uh, crude oil and especially in the products markets, which remain tight.”
“So, you have this unloading problem that's going on there and, um, you have to go through, you know, Ain Sukna and deliver crude into the system, pipe it for a couple hundred kilometers out, out of Alexandria, Egypt, uh, to Siet, uh, Siet Kaer, either run your vessel all the way around the Med, all the way around the other side or pass it through Suez, reclaim the cargo or pass it onto another cargo so that it can head to Gibraltar, all the way around Africa and then to Asia, which is, you know, at least doubling the transportation and labor costs.”