Hormuz reopening optimism shifts sentiment, but flows stay constrained

Reopening optimism has softened crude prices, but flows through Hormuz remain constrained, keeping underlying prompt tightness intact. Atlantic Basin differentials are starting to ease on weaker refinery demand and reopening expectations, though downside should be gradual with flows still limited. In the Americas, Midland arbs are improving and supporting flows to Asia, but logistical constraints …

Scroll to Top