Hormuz Ship Traffic Rebounds To Highest Level Since Start Of War, Iran Renews Restrictions

Hormuz Ship Traffic Rebounds To Highest Level Since Start Of War, Iran Renews Restrictions Oil prices are on track to close lower for the week, with WTI futures down more than 9% versus last Friday’s close after the US and Iran secured an interim peace deal to reopen the Strait of Hormuz. The normalization phase for tanker traffic through the Hormuz maritime chokepoint is still in its early stages, but the market is already beginning to price in a major wave of physical crude and c...