Reposted by Maritime RSS
The Strait of Hormuz is open. So why is Brent crude still above $100 a barrel? It comes down to market psychology and a perverse bet on military strategy (via Bloomberg Opinion)
bloom.bg
Why Is Oil at $100 If Trump Is Winning the Battle in Hormuz?
I don’t know who will win the US-Iran war. But if you ask me who’s prevailing in the battle over the Strait of Hormuz, it’s clear US President Donald Trump has the advantage. As much as Tehran says the opposite, the strait is effectively wide open. Crude oil exports from regional US allies via the waterway, plus bypass routes, have risen to about 80% of prewar levels. Iran, meanwhile, has seen its own oil exports plunge to zero.