Oil Market: The $1 Million-a-Day Oil Tanker Will Drive Inflation

Former President Bill Clinton once said that when a crisis breaks out, the first thing everyone in Washington asks is, “Where is the nearest [aircraft] carrier?” That remains a critical question as the US faces off against Iran in the Strait of Hormuz, but for the shipping industry, it may have been replaced by another: “Where are the nearest oil tankers — and do we have enough?”