Oil flows rebound in Middle East faster than analysts expected

Oil markets are loosening as Middle East transit and production rebound faster than expected after the U.S.–Iran MOU, with tanker backlogs clearing through the Strait of Hormuz and higher exports boosting supply. Brent sits near pre‑war levels (about $72/bbl) amid softer Chinese demand and strategic releases, but analysts warn the market could tighten again once the backlog clears in roughly two weeks and as output and reserve releases wind down.