Oil steadies as Hormuz reopens and demand outlook stays in focus
TL;DR Summary
Oil prices steadied after the Strait of Hormuz reopening and as markets weighed an interim U.S.-Iran agreement, with Brent at about $79.49 a barrel and WTI around $76.36. OPEC rejected forecasts of an imminent demand peak and signaled global demand remains robust, while traders monitor the speed of shipping normalization and insurance costs amid a cautious near-term outlook of roughly $75–$82 for Brent.
- Oil drifts lower as Strait of Hormuz reopens, focus shifts to demand outlook CNBC
- Oil Falls on Signs of Strait of Hormuz’s Reopening WSJ
- Tracking the reopening of the Strait of Hormuz, in live maps and charts CNN
- Iran announces plans to bring in maritime fees for strait of Hormuz The Guardian
- U.S.-Iran deal in photos: ships in the Strait of Hormuz, daily life in Tehran CNBC
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