Oil Set for Deep Weekly Loss as Hormuz Traffic Starts to Pick Up

🇺🇸 Bloomberg (US) —

AI Summary

Oil prices are set for a substantial weekly loss as shipping traffic through the Strait of Hormuz begins to return to normal following the US-Iran interim peace deal. This normalization eases the global crude market's largest supply shock.

Oil headed for a substantial weekly drop as the US-Iran interim peace deal saw shipping through the Strait of Hormuz start to return to normal, easing the global crude market’s biggest ever supply shock.

World Politics Markets Commodities Energy Shipping oil prices Strait of Hormuz US-Iran deal shipping traffic crude market supply shock

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