WS #10671
Strait of Hormuz reopening continues to push oil prices lower, with WTI briefly below $70 and Brent near $72.68, as Saudi Ras Tanura exports restart and demining efforts progress. Ukrainian drone strikes hit Russian oil refineries in Ufa and Mozyr, causing black smoke and fuel shortages in 15 Russian regions, forcing increased crude exports.
Oil Market Normalization
Strait of Hormuz reopening continues to push oil prices lower, with WTI briefly below $70 and Brent near $72.68, as Saudi Ras Tanura exports restart and demining efforts progress.
Ukrainian drone strikes hit Russian oil refineries in Ufa and Mozyr, causing black smoke and fuel shortages in 15 Russian regions, forcing increased crude exports.