Iran says deployed deep-roaming submarines in Strait of Hormuz; Iran's semi-official Tasnim News reports on submarines

SAUDI ARAMCO CEO NASSER: WE EXPECT DEMAND RATIONING TO CONTINUE AS LONG AS SUPPLY REMAINS DISRUPTED THROUGH THE STRAIT OF HORMUZ SAUDI ARAMCO CEO NASSER: THERE IS AN APPARENT DISCONNECT BETWEEN FUTURES AND PHYSICAL MARKETS, AS EVIDENCED BY STRONG REFINING MARGINS THAT REFLECT MARKET TIGHTNESS - WE EXPECT DEMAND RATIONING TO CONTINUE AS LONG AS SUPPLY REMAINS DISRUPTED THROUGH THE STRAIT OF HORMUZ #OOTT Aramco’s CEO Amin Nasser: If the disruption continues at this rate, the market will lose around 100 million barrels for every week the Strait of Hormuz remains closed. This loss will have to be covered by onshore inventories - the only buffer in the system today. #OOTT HORMUZ CLOSURE INTO JUNE WILL PROLONG RECOVERY TO 2027: ARAMCO SAUDI ARAMCO CEO NASSER: THE URGENCY TO ENSURE SECURITY OF SUPPLY WILL LEAD TO RAPID RESTOCKING AND REBUILDING OF STRATEGIC RESERVES AND COMMERCIAL INVENTORIES