Oil rises as uncertainty continues over reopening of Strait - Reuters
Source: Reuters
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DW NOTE
The Strait has been effectively closed for 162 days. Oil is down 30% from recent highs. That's not uncertainty — that's a market pricing in supply alternatives that evidently exist, or demand destruction no one wants to discuss in public.
For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor
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