Oil Prices Reflect Optimism That Hormuz Has Yet to Justify

Oil Prices Swooned 20% in June. Here’s What Energy Investors Need to Know.

Key PointsOil prices dropped 20% in June as workarounds and optimism about the reopening of the Strait of Hormuz eased supply concerns. While lower oil prices will impact producer profitability, many have been working towards enhancing their ability to profit from lower prices. ExxonMobil and ConocoPhillips both expect to deliver meaningful growth at lower oil prices through the end of the decade. 10 stocks we like better than ExxonMobil › Crude…

Oil steadies as Hormuz traffic recovers

Traders monitor peace talks between the US and Iran

Oil Steadies as Peace Talks Continue, Hormuz Traffic Recovers

(Bloomberg) — Oil steadied after the biggest quarterly drop since the pandemic, as traders monitored peace talks between the US and Iran and the return of shipping through the Strait of Hormuz.

Oil Prices Reflect Optimism That Hormuz Has Yet to Justify

Crude oil prices ended the second quarter of the year with the steepest decline since 2020, with Brent shedding close to 40% on optimism about a peace deal between the United States and Iran. But it may be too early to celebrate, ING commodity strategists said today. Traffic in the Strait of Hormuz is still far from pre-war levels, Warren Patterson and Ewa Manthey wrote, adding that “Total tanker crossings, which include both inbound and outboun…

Oil Steadies as Peace Talks, Flows Through Hormuz in Focus

Oil extended its run of declines on growing signs of oversupply, with traffic through the Strait of Hormuz recovering and some of the impacts of the Iran war continuing to fade.