MarketPR
Brent crude slipped below $80 as postponed U.S.-Iran talks drained the geopolitical risk premium that had briefly steadied prices, refocusing the market on demand fundamentals and OPEC's supply outlook.
Tanker traffic through the Strait of Hormuz has resumed, signaling that the acute supply-disruption scenario traders had been pricing is, for now, off the table.
For energy-exposed portfolios, the regime shift is meaningful: the bid that came from ceasefire uncertainty is fading, and what replaces it depends on macro demand and cartel discipline.
Strait of Hormuz Traffic Normalizes The return of tanker movements through the Strait of Hormuz is the clearest operational signal that the supply-shock thesis has lost conviction.
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