๐ข๏ธ CRUDE OIL MARKET UPDATE
Crude oil is trading around 92.5$ /barrel, extending its decline for the 4th consecutive session.
๐ Key bearish factors: โข Diplomatic efforts between the US and Iran are reducing immediate supply-disruption concerns.
โข Oil & LNG flows through the Strait of Hormuz remain resilient.
โข Crude and LNG transit through Hormuz has reportedly reached a 6-month high.
โข Main shipping lanes remain clear of mines.
โข Middle East oil flows averaged around 17.1M barrels/day over the past 10 days.
๐บ๐ธ Geopolitical Watch:
President Donald Trump indicated he may be open to meeting Iranian President Masoud Pezeshkian during the UN General Assembly, while further meetings with Gulf leaders are also possible.
๐ Market View.
If diplomatic tensions continue to ease and supply flows remain stable, the reduced geopolitical risk could continue to weigh on crude oil prices
$CL
Crude oil is trading around 92.5$ /barrel, extending its decline for the 4th consecutive session.
๐ Key bearish factors: โข Diplomatic efforts between the US and Iran are reducing immediate supply-disruption concerns.
โข Oil & LNG flows through the Strait of Hormuz remain resilient.
โข Crude and LNG transit through Hormuz has reportedly reached a 6-month high.
โข Main shipping lanes remain clear of mines.
โข Middle East oil flows averaged around 17.1M barrels/day over the past 10 days.
๐บ๐ธ Geopolitical Watch:
President Donald Trump indicated he may be open to meeting Iranian President Masoud Pezeshkian during the UN General Assembly, while further meetings with Gulf leaders are also possible.
๐ Market View.
If diplomatic tensions continue to ease and supply flows remain stable, the reduced geopolitical risk could continue to weigh on crude oil prices
$CL
