BUSINESSMARKETWATCH
Oil is set for the largest quarterly price drop in 6 years as historic supply crunch eases
Oil is expected to experience its largest quarterly price drop in six years as workarounds for the Strait of Hormuz chokepoint and reduced crude imports to China alleviate a supply crunch. The easing of the Persian Gulf oil supply issue has contributed to the price decline.
Related Signal
Adjacent reporting
- Oil set for biggest monthly drop in 6 years, bringing consumers some relief
- Brent oil price posts biggest monthly loss in six years as market counts on a U.S.-Iran deal
- Gas prices are falling for a sixth straight week as Iran diplomacy eases oil supply fears
- Gas prices sink as oil set for 20% drop — largest one-month decline since 2020
- Oil falls as International Energy Agency forecasts supply glut next year after U.S.-Iran deal
- Oil Headed for Largest Quarterly Price Drop Since 2020