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Delays in the Turkish straits put freight markets and Urals Med crude under pressure
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The Turkish straits form the link between the Black Sea and the Mediterranean – a crucial choke point for transporting crude oil. But this year, poor weather and frequent closures in the Bosporus and Dardanelles have led to the longest shipping delays through the straits in at least 10 years. S&P Global Platts editors Paula VanLaningham and Peter Farrell join Joel Hanley to talk about the impact on European crude markets.
