Cadi Poon
03-09
The Strait of Hormuz — carrying roughly 20% of global oil and LNG supply — is effectively shut. Goldman Sachs estimates the total hit to Persian Gulf flows at 17mb/d, a disruption 17 times larger than the peak April 2022 hit to Russian oil production.
Oil Rebounds: Can It Stabilize Within Ceasefire Window?
USO edged up 1.91% to $126.96, staging a technical recovery after yesterday's near-10% plunge as the geopolitical risk premium tied to the U.S.-Iran ceasefire window nears exhaustion. OPEC+ production increase expectations and slowing global demand growth continue to weigh on the medium-term outlook, with $130 as near-term resistance. Outcome would be agreement extension? Or breakdown-driven rebound?
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