Accelerated recovery in Middle East crude oil supply! Oil prices erase wartime gains as European Central Bank interest rate hike expectations cool.

Intellifinance APP has learned that against the background of the United States and Iran signing a memorandum of understanding and continuing to promote peace negotiations, the reopening of the Strait of Hormuz has allowed the flow of crude oil transportation in the Middle East to resume. According to data from trade tracking company Kpler, since the United States and Iran reached an agreement to reopen this key shipping route, more than 20 oil tankers carrying about 35 million barrels of crude oil have passed through the Strait of Hormuz.