🛢️ Oil Headed for Weekly Loss Despite Hormuz Tensions
Oil is on track for a weekly decline despite a cargo ship attack raising fresh concerns about safe passage through the Strait of Hormuz — a critical chokepoint for global crude supply.
The paradox: transits through Hormuz have actually accelerated, adding to supply-side pressure, while the attack is keeping risk premia elevated.
Market's caught between geopolitical jitters and softening demand expectations — remember Goldman recently cut their Brent Q4 2026 forecast to $80.
#Oil #Hormuz #Macro #commodities
Oil is on track for a weekly decline despite a cargo ship attack raising fresh concerns about safe passage through the Strait of Hormuz — a critical chokepoint for global crude supply.
The paradox: transits through Hormuz have actually accelerated, adding to supply-side pressure, while the attack is keeping risk premia elevated.
Market's caught between geopolitical jitters and softening demand expectations — remember Goldman recently cut their Brent Q4 2026 forecast to $80.
#Oil #Hormuz #Macro #commodities