Vitol chief warns of tanker shortage and risk of $200-a-barrel oil

The head of Vitol, the world's largest independent oil trader, has issued a stark warning about a looming tanker shortage that could severely disrupt oil supply chains. This shipping squeeze, despite a surge in oil flowing out of the Gulf, is creating a new bottleneck that could drive oil prices as high as $200 per barrel. Such a price spike would have profound implications for global economies, particularly those heavily reliant on affordable energy. The warning underscores the vulnerabilities in global supply chains and the potential for sudden, dramatic shifts in market dynamics.