The market could tighten again, and prices could rise anew — and plenty depends on security in the Strait of Hormuz.
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Illustration: Aïda Amer/Axios
Wait, what? The ink is barely dry on the U.S.-Iran memorandum of understanding, and somehow the market is swimming in oil.
Why it matters: Middle East oil transit and production have resumed faster than many analysts predicted, helping push down prices.
The rebound is good news for the tight oil market and is helping push prices lower.
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…
The prospects for a peace deal, falling Chinese demand and some workarounds to the Strait of Hormuz closure have helped to stop…
Oil market uncertainty remains high, as analysts debate whether lower prices will spur stronger demand while importers prepare…
Oil prices rose after renewed U.S.-Iran hostilities heightened concerns over Strait of Hormuz shipping, with analysts warning…
Oil climbs following renewed US, Iran strikes in Middle East
