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The Nexus
BUSINESSJun 18 · 22:04 UTCBLOOMBERGRong Wei Neo, Gabriel Levin

Oil Set for Deep Weekly Loss as Hormuz Traffic Starts to Pick Up

Oil prices are set for a significant weekly decline as traffic through Hormuz increases. The ongoing US-Iran war, entering its third month, has led oil traders to hedge against outcomes linked to US inventories, while the top crude exporter faces pressure to meet global demand.

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US-Iran wartopicHormuzplaceUnited StatesplaceIranplaceOil TradersorganizationUS inventoriestopictop crude exportertopic
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