Oil Headed for Largest Quarterly Price Drop Since 2020

🇺🇸 Bloomberg (US) —

AI Summary

Oil prices are poised for their largest quarterly decline since 2020 as increased flows through the Strait of Hormuz follow progress on a US-Iran peace deal. Morgan Stanley warns of a potential oil glut ahead amid these developments.

Oil is set for the biggest quarterly decline since the pandemic and Morgan Stanley is warning of a potential glut ahead as flows through the Strait of Hormuz accelerated following progress on a peace deal between the US and Iran. Alaric Nightengale reports on Bloomberg Television. (Source: Bloomberg)

Politics Markets Deals Commodities Energy Shipping oil prices Strait of Hormuz US-Iran peace deal oil glut energy markets shipping lanes

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