Strait of Hormuz Is Open: So Why Hasn’t Oil Crashed Harder?
Brent crude traded at $79.46 a barrel on June 18, down roughly 30% from $112.93 a month ago, and with the Strait of Hormuz now open and ships moving again, many expected prices to fall further still. They haven’t. The answer comes down to the forces quietly keeping a floor under crude even as supply...
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