Sam Price Points Out Market Impact of Fluctuating Oil Prices in Hormuz
Prefer us on GoogleAccording to Twitter user Sam Price, there have been fluctuations in oil trade in the Strait of Hormuz. Data from Kpler shows that in the week ending October 18, oil exports from the Gulf region averaged over 24 million barrels per day, higher than the pre-war level of 23.3 million barrels. The transportation volume in the Strait of Hormuz itself has only returned to about 82% of normal levels, with pipeline and ship-to-ship transfers filling the gap. WTI crude oil prices have fallen to about $97.38 per barrel, while Brent crude oil prices are around $108. The cooling of oil prices may alleviate inflationary pressures on the Federal Reserve, benefiting risk assets.
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