China oil import cut, higher U.S. exports wrongfoot market bulls

Physical crude oil prices hit all-time highs above US$160 per barrel, reflecting heightened market stress tied to the U.S.-Iran war and the risk of a prolonged closure of the Strait of Hormuz. The article frames a severe supply-shock scenario that could sharply disrupt global energy flows and keep sentiment defensive across commodities and broader risk assets.

Analysis

Physical crude oil prices hit all-time highs above US$160 per barrel, reflecting heightened market stress tied to the U.S.-Iran war and the risk of a prolonged closure of the Strait of Hormuz. The article frames a severe supply-shock scenario that could sharply disrupt global energy flows and keep sentiment defensive across commodities and broader risk assets.