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The boss of Shell has revealed the oil giant is being “very careful” with its shipping through the Middle East given the escalating conflict between Israel and Iran.
Wael Sawan told an industry conference that:
“The escalation in tensions over the last few days, in essence, has added to what has already been significant uncertainty in the region.
“We’re being very careful with, for example, our shipping in the region, just to make sure that we do not take any unnecessary risks.”
“The Strait of Hormuz is, at the end of the day, the artery through which the world’s energy flows, and if that artery is blocked, for whatever reason, it’ll have a huge impact on global trade.”
Continue reading…Rolling coverage of the latest economic and financial newsThe boss of Shell has revealed the oil giant is being “very careful” with its shipping through the Middle East given the escalating conflict between Israel and Iran.Wael Sawan told an industry conference that:“The escalation in tensions over the last few days, in essence, has added to what has already been significant uncertainty in the region.“We’re being very careful with, for example, our shipping in the region, just to make sure that we do not take any unnecessary risks.”“The Strait of Hormuz is, at the end of the day, the artery through which the world’s energy flows, and if that artery is blocked, for whatever reason, it’ll have a huge impact on global trade.” Continue reading…
