Market Snapshot
The market “Strait of Hormuz traffic returns to normal by June 15” is currently priced at 0.9% YES, down from 1% a day ago and 3% a week ago. The market “Strait of Hormuz traffic returns to normal by July 31” stands at 29.5% YES, slightly down from 30% a day ago and 40% a week ago.
Key Takeaways
Wright’s statement appears to suggest a potential increase in oil traffic through the Strait of Hormuz.
Markets suggest participants are skeptical about a full normalization by June 15, as indicated by low YES pricing.
