Oil Prices, Oil Flows, and the War with Iran

[Ernie]

https://www.wsj.com/world/middle-east/m ... _permalink

More Oil Is Now Coming Out of the Persian Gulf Than Before the Iran War,
but at a high cost...

[ken_sylvania]

https://www.wsj.com/world/middle-east/m ... _permalink

More Oil Is Now Coming Out of the Persian Gulf Than Before the Iran War,
but at a high cost...

That's weird. I remember being told that the shippers wouldn't be willing to take the risk of shipping anything through the channel even with US protection.

[Soloist]

https://www.wsj.com/world/middle-east/m ... _permalink

More Oil Is Now Coming Out of the Persian Gulf Than Before the Iran War,
but at a high cost...

That's weird. I remember being told that the shippers wouldn't be willing to take the risk of shipping anything through the channel even with US protection.

Offer enough money and the ship owners will risk it. The crew and captain can either work, or be blackballed from shipping contracts which is for the majority, their livelihoods.
What would you do if you were told risk uncertainty of war or financial loss and starvation? Some of these crews are likely from poor countries.

[barnhart]

It makes sense to me that shipping magnates will be willing to risk ship, cargo and crew once the potential payout is great enough to pay the insurance premiums.