Halliburton, Valero and 3 More Stocks Set Up for a Fragile Hormuz Truce
Gulf Producers Race to Load Oil and LNG as Hormuz Stays Open What I Cover My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market… Brent crude has fallen more than20% in the past month, sliding from triple digits during the worst of the Iran war to around $72 a barrel today.
That kind of move usually means one thing: the crisis is over.
The Strait of Hormuz, the chokepoint that carries roughly a fifth of the world's seaborne oil, spent nearly four months effectively shut after the U.S.
Iran mined the strait, fired on tankers and closed the lane to anyone it considered hostile.
and Iran signed an interimmemorandum of understanding on June 17meant to reopen Hormuz to toll-free traffic and wind the war down over a 60-day window.
Iran briefly reclosed the strait in April over what it called ceasefire violations.
As recently asJune 25 through 28, Iran and the U.S.
traded a fresh round of strikes: drones hit a container ship, the U.S.
retaliated, and Tehran hit a vessel carrying Qatari oil before both sides agreed to pause ahead of new talks in Doha.
Shipping is still moving under adaily quota system run by Iran's Revolutionary Guard navy, hundreds of vessels remain stranded in the Gulf, and war-risk insurance premiums are still many times above pre-war levels.
SetOilPrice.comas a preferred source in Googlehere.
Saudi Arabia has started loading tankers again at Ras Tanura, and the UAE, Kuwait and Qatar are all pushing more crude onto the water, with Gulf flows reportedly climbing back to roughly75% of prewar levels.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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