Lates News

Crude oil futures saw their third consecutive trading day disappointed as the expectation of the reopening of the Hormuz Strait once again failed to materialize. Ritterbusch & Associates stated in a report that Trump's extension of the ceasefire agreement eliminated the immediate risk of escalation, but negotiations may be delayed, and the U.S. blockade is likely to be maintained indefinitely. The release of strategic oil reserves and exports through alternative routes have partially mitigated the impact of the strait closure on oil prices, with "price-related demand destruction becoming a more popular topic."