In a virtually-unheard of setup, Thursday features a legitimate severe weather/tornado risk in Dubai, the UAE, northern Oman, Bahrain and Qatar. Serious flooding – with up to a year's worth of rain – is expected as well.
NEW - IEA chief says current oil supply losses due to Hormuz Strait closure exceed the combined impact of 1973 and 1979 oil crises, gas losses are nearly double that from Russia/Ukraine war and other commodities, like fertilizer are also impacted, "The situation is very severe."