Oil supply through the Strait of Hormuz is severely disrupted, but markets signal a perceived surplus; WTI reaching $110 in July 2026 at 0.8% YES.

As flow resumes through the strait, an oil surplus may yet again destabilise global energy markets.

Oil supply through the Strait of Hormuz is severely disrupted, but markets signal a perceived surplus; WTI reaching $110 in July 2026 at 0.8% YES.