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Hormuz reopening to release wave of oil supply, depress prices
By Nidhi Verma, Siyi Liu and Joyce LeeNEW DELHI/SINGAPORE, June 18 (Reuters) - Middle Eastern crude oil markets could come under further pressure if the Strait of Hormuz reopens on Friday following the U.S.-Iran interim deal, releasingmillions of barrels of oil stranded in the Middle East Gulf into global markets, industry executives said.The wave of supply comes after Gulf producers ramped up exports via ship-to-ship transfers off the United Arab Emirates and Oman this month, which depressed spot differentials for Middle East crude to discounts on Tuesday.
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straitstimes.com
Oil prices extend drop as markets weigh return of supply through Hormuz
Prices at slightly more than three-month lows, but above pre-war levels. Read more at straitstimes.com. Read more at straitstimes.com.
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timesofindia.indiatimes.com
US-Iran peace deal: What opening of Strait of Hormuz would mean for India’s crude oil supplies
US-Iran peace deal signing and the full opening of the Strait of Hormuz, if it goes through, will bode well for availability of crude oil supplies globally. Crude oil supplies…
