Natural Gas and Oil Forecast: Gulf Supply Risks Rise as WTI and Brent Break Higher - FXEmpire
Natural Gas and Oil Forecast: Gulf Supply Risks Rise as WTI and Brent Break Higher - FXEmpire
Source: FXEmpire
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DW NOTE
The Strait of Hormuz has been effectively closed for six months — not a developing risk, an established fact. WTI at $91 and Brent at $96 are both down nearly 20% from their peaks despite the closure, which tells you either the market has priced in permanent rerouting or it hasn't priced in what happens when 2,000 stranded ships try to move at once.