Commodities: Hormuz Recovery Continues To Weigh On Oil Market
ING Economic and Financial Analysis
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2026-06-24
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via All Articles on Seeking Alpha
Summary Oil prices continue to move lower as flows from the Persian Gulf start to recover. Price action suggests the market is assuming a rapid recovery in traffic through the Strait of Hormuz. A stronger US dollar and expectations that the Fed could keep rates higher for longer outweighed safe-haven support from geopolitical risks. ttart/iStock via Getty Images
By Warren Patterson & Ewa Manthey
Energy – Russia considers diesel export ban Oil prices continue to grind lower, with ICE Brent settling a little over 1% lower yesterday. Positive signals from the Persian Gulf are fuelling optimism
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