Oil Erases Wartime Gains as Hormuz Stockpiles Hit Market
Goldman economist Farouk Soussa talks about why the Strait of Hormuz doesn't need to come back to 100% for the full amount of oil from the Gulf to come back into the market, and the longer-term outlook for crude amid the US-Iran negotiations. (Source: Bloomberg)
Oil Prices Fall Below Pre-War Levels
- Oil back to pre-war levels as Hormuz traffic rebounds, US tries to reassure Gulf allies The Straits Times —
- Oil close to pre-war price as Iran oil hits market, ships transit strait UPI —
- Oil prices at lowest level since start of Iran war Semafor —
- ECB Rate-Hike Forecasts Pared Back as Oil Regains Pre-War Level Bloomberg —
- Oil tankers pass the Strait of Hormuz despite Iran threats, as traffic flows begin to recover NBC News —