The rebound is good news for the tight oil market and is helping push prices lower.
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Brendan Lynch/Axios
Oil shipments through the Strait of Hormuz are resuming faster than many analysts predicted, but fresh hostilities in recent days are threatening the trend.
Why it matters: The rebound in shipments is good news for the tight oil market and is helping push prices lower.
The market could tighten again, and prices could rise anew — and plenty depends on security in the Strait of Hormuz.
Gasoline prices also have climbed.
The markets' shock absorbers could easily wear out later this summer unless the Strait of Hormuz opens soon.
The agreement to re-open the Strait of Hormuz has been met with swift relief in markets. But some traders worry the rally in…
Shipping through the crucial Strait of Hormuz is showing signs of recovery, with daily transits increasing significantly, though…
Supertankers to South Korea and China move through the Strait of Hormuz, signaling tentative progress in US-Iran diplomacy and a…
