WS #15059
Brent crude oil has retreated from its recent highs, dropping 1.56% to $97.02 as reports confirm that oil shipments through the Strait of Hormuz have resumed at 65-70% of pre-crisis levels. This development significantly dampens the immediate bearish thesis for global supply disruption. However, the lagging impact on refined products remains severe, with US diesel prices still up 71% compared to the previous year, indicating persistent inflationary pressure on logistics and industrial costs that will not vanish with the spot price correction.
Oil Price Reversal and Logistics Inflation
Brent crude oil has retreated from its recent highs, dropping 1.56% to $97.02 as reports confirm that oil shipments through the Strait of Hormuz have resumed at 65-70% of pre-crisis levels. This development significantly dampens the immediate bearish thesis for global supply disruption. However, the lagging impact on refined products remains severe, with US diesel prices still up 71% compared to the previous year, indicating persistent inflationary pressure on logistics and industrial costs that will not vanish with the spot price correction.