Oil Surges Most Since 2020, Reflecting Bet That Strait Won’t Go Back to Normal - WSJ
Oil Surges Most Since 2020, Reflecting Bet That Strait Won’t Go Back to Normal - WSJ
Source: WSJ
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DW NOTE
The Strait is open and shipping 35-40 vessels daily — whatever traders are pricing in, it isn't closure risk. Oil dropped 30% from its 2026 peak even with global supply down 3.7 million barrels per day, which means the demand collapse of nearly 5 million barrels per day in Q2 mattered more than any geopolitical premium. A 12% bounce off a 30% selloff is not a surge, it's a reflex.