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War headlines today.
- Houthis close Taiz bulge, lose Mocha.
- Houthis bomb Yanbu pipeline again and another refinery.
- Houthis bomb tanker in Bab al-Mandeb.
- Iran/US talks continue.
Brent dropped 2% anyway to around $100. This is a good sign that enough oil is flowing through Hormuz, even if the rumour is that it has slowed over the past week as Iranian attacks increased. That said, dated Brent’s physical barrels remain very tight.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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