🚨 OIL FALLS AS IRAN SIGNALS REOPENING OF HORMUZ
Iran could reopen Hormuz within 7 days if the U.S. eases military pressure and lifts the port blockade.
🔹 Brent: $98.1
🔹 WTI: $94.2
🔹 Saudi transiting through Hormuz: 2.9M bpd
Reuters reports that currently only 2 commercial ships pass through Hormuz on September 21, compared with about 125 ships/day before the conflict.
Notably, oil fell before Hormuz was actually reopened.
If the strait opens fully, can $100 per barrel still hold?
Iran could reopen Hormuz within 7 days if the U.S. eases military pressure and lifts the port blockade.
🔹 Brent: $98.1
🔹 WTI: $94.2
🔹 Saudi transiting through Hormuz: 2.9M bpd
Reuters reports that currently only 2 commercial ships pass through Hormuz on September 21, compared with about 125 ships/day before the conflict.
Notably, oil fell before Hormuz was actually reopened.
If the strait opens fully, can $100 per barrel still hold?
