The IEA eased its forecast declines for global oil supply and demand this year as June proved stronger than expected. But Hormuz hangs in the balance.

Global oil supply rebounded in June after a ceasefire allowed Strait of Hormuz transit. However, renewed hostilities between the United States and Iran threaten future oil surplus…

Global oil demand is showing signs of recovery as shipments through the Strait of Hormuz resume and crude prices ease, the International Energy Agency (IEA) said. While the agency…