Oil Steadies After Gains as Hormuz Ship Attacks Threaten Supply - Bloomberg.com
Oil Steadies After Gains as Hormuz Ship Attacks Threaten Supply - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
The Strait of Hormuz has been closed for three days. Oil is up 9% this week and still down 28% from its annual high. When a chokepoint that handles 20% of global seaborne crude goes dark and the market treats it as a reflex bounce rather than a structural break, you're watching traders price in either a swift reopening or demand destruction steep enough to offset the loss.