The oil market's 2027 relief hopes are fading fast - Axios
The oil market's 2027 relief hopes are fading fast - Axios
Source: Axios
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DW NOTE
The Strait of Hormuz has been effectively closed for seven months — first blocked in February, briefly reopened in June, then re-closed pending Iranian conditions no one is meeting. Oil is down 14% from its yearly high despite this, not rallying toward it. That's the market pricing in demand destruction, not supply relief in 2027.