Strait of Hormuz reopening cools oil markets
Restored shipping through Hormuz takes some heat out of crude.
O
Oneonomy Admin
Oil markets cooled as the reopening of the Strait of Hormuz eased acute supply fears.
What's happening
Tanker traffic and insurance costs began to normalize.
Traders remain wary of a relapse.
Why it matters
Calm at Hormuz is welcome but far from guaranteed.
Tags
EnergyOilHormuz