"Oil prices remained relatively stable today amid a cautious backdrop and uncertainty over developments regarding the status of the Strait of Hormuz."
"The lack of tangible progress toward a broader agreement continues to support prices, while persistent disruptions in the waterway are reinforcing concerns that energy flows from the Middle East could remain limited for an extended period."
"Even though isolated tanker movements have resumed, shipping activity remains far below normal levels, leaving the physical market tight."
"The market is expected to experience a deficit this year and continued pressure on oil stockpiles, which could leave prices on an upward bias."
Oil prices remained relatively stable amid cautious market conditions and uncertainty about the Strait of Hormuz. Limited progress toward a broader agreement supported prices, while ongoing disruptions in the waterway raised concerns that Middle East energy flows could stay constrained for longer. Some tanker movements resumed, but shipping activity remained well below normal, tightening the physical market. The market is expected to run a deficit this year, keeping pressure on oil stockpiles and leaving prices with an upward bias. Future price direction is likely to depend on diplomatic developments and changes in shipping conditions. A meaningful breakthrough could reduce prices, but maritime normalization may take time, while attention may shift to US-China talks for signs of easing tensions related to Iran.
Read at London Business News | Londonlovesbusiness.com
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