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 rebounded after U.S. strikes on Iranian targets near the Strait of Hormuz revived fears that the fragile path toward reopening the chokepoint could unravel.

Oil price jumps after US strikes in Iran raise concerns over the fragile ceasefire, impacting global energy supplies and trade through the Strait of Hormuz

Strait of Hormuz reopening may lower oil prices. New all-time high for crude by September 30 at 22% YES.