Bears watching closely >>
“The market is largely focused on the resumption of oil flows through the Strait of Hormuz, which continues to increase,” the Dutch bank’s commodity team wrote today. “However, much of the increase reflects previously stranded vessels leaving the Persian Gulf. Vessel flows into the Gulf remain much more modest.”
Oil Markets Are Pricing A Supply Surge That Isn’t Guaranteed | OilPrice.com
OilPrice.comOil Markets Are Pricing A Supply Surge That Isn’t Guaranteed | OilPrice.comOil prices are sliding on hopes of a Hormuz supply flood, but analysts warn the rebound is driven by stranded tankers, not new flows.