Oil prices have retreated from recent highs as markets price in hopes of partial Hormuz reopening, while record U.S. crude exports and massive SPR releases temporarily ease global supply pressures.

Oil prices have retreated from recent highs as markets price in hopes of partial Hormuz reopening, while record U.S. crude exports and massive SPR releases temporarily ease global…

Global oil prices have retreated sharply amid hopes that a lasting Middle East ceasefire can unlock the Strait of Hormuz.

Strait of Hormuz oil exports unlikely to return to prewar levels amid ongoing tensions. Normal traffic by June 15 at 6.5% YES.