Oil surges as Strait of Hormuz is back into ‘full conflict conditions'

Renewed Middle East tensions and a soured U.S.-Iran ceasefire have slowed Strait of Hormuz transits, reviving worries that crude supply could tighten and inventories may draw down. The development heightens risk to oil stockpiles and raises the probability of higher crude prices as logistics disruptions persist.

Analysis

Renewed Middle East tensions and a soured U.S.-Iran ceasefire have slowed Strait of Hormuz transits, reviving worries that crude supply could tighten and inventories may draw down. The development heightens risk to oil stockpiles and raises the probability of higher crude prices as logistics disruptions persist.