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Commodities: Oil Bounces Back After Vessel Hit In Strait Of Hormuz
ING Economic and Financial Analysis · 2026-06-26 · via All Articles on Seeking Alpha

Summary

  • Oil bounced back yesterday after a vessel was struck in the Persian Gulf.
  • However, with the broader market focused on a recovery in oil flows from the region, price momentum still appears to be to the downside.
  • Gold steadied after falling below the $4,000/oz level earlier in the week, finding support from lower Treasury yields following softer US inflation data.
An oil tanker anchored near a petroleum terminal and offshore platform in Persian Gulf

Getty Images

By Warren Patterson & Ewa Manthey

Energy – Iraq’s threat to OPEC

The sell-off in the oil market came to an abrupt halt yesterday after reports of a commercial vessel being struck in the Strait of Hormuz. It

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