Energy

Natural Gas and Oil Forecast: WTI, Brent Pull Back as Iran Sanctions Intensify - FXEmpire

Source: FXEmpire

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DW NOTE

The Strait of Hormuz has been effectively closed for 133 days, with only one ship transiting versus a normal flow of 73 daily, yet WTI and Brent are pulling back from recent highs — WTI at $87.06, Brent at $94.39. Sanctions may be intensifying, but the real price anchor is six months of projected mine-clearing and 2,000 ships still stranded in the Gulf.

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Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

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Natural Gas and Oil Forecast: WTI, Brent Pull Back as Iran Sanctions Intensify - FXEmpire

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