Oil traders say war premium on seaborne crude is selling off hard and heading back to prewar levels ahead of the potential reopening of the Strait of Hormuz, although ample uncertainty remains, with few market players willing to risk taking a position on prices falling further or bouncing back up.
Oil War Premium Sells Off Hard as Hormuz Reopening Looms
The prompt premium over later supplies in Brent has collapsed and is back to prewar levels, with analysts saying the war premium is already essentially gone.
50 words~1 min read
