Oil Pressure Persists as Hormuz Disruptions Deepen Energy Crisis

Global oil markets stay under stress from Hormuz disruptions, weak data, and tightening inventories, with Brent around $105 and the IEA warning of a red zone by mid-summer. The largest US inventory drawdown sparked only a muted rally as diplomacy chatter with Iran continues, while OPEC+ is expected to hike July quotas despite a steep drop in Gulf output. Europe faces bunkering quality issues, Egypt’s gas production collapses, and China raises fuel-price caps, even as LNG projects move forward and major energy deals unfold, underscoring ongoing volatility amid a deepening energy crisis.