Energy

Hormuz Stalemate Raises Risk of $120 Oil

For months now, traders and market analysts have had to weigh two opposing scenarios for oil prices—the ongoing war and severely disrupted oil flows at the Strait of Hormuz and hopes that a U.S.-Iran deal would free up millions of barrels of oil and refined products trapped in the Persian Gulf. For

Source: OilPrice.com

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DW NOTE

The Strait has been closed for 166 consecutive days and WTI trades at $81.90 — not $120. Oil markets are pricing in either a swift resolution or a strategic petroleum reserve release large enough to matter, because a sustained 4% global supply cut should have cleared triple digits months ago.

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Hormuz Stalemate Raises Risk of $120 Oil

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