Brent crude rally raises oil price focus for miners
after close1 source ↓written by the desknot a recommendation
- Brent crude surged
- 6%
- as US-Iran tensions
- $76.34/bbl
- Hormuz traffic
- 15%
- from the market
- 1.5-2 million barrels per day
Brent crude surged 6% to $76.34/bbl as US-Iran tensions cut Strait of Hormuz traffic by 15%. US crude inventories are 6% below the five-year average, raising concerns over supply. A potential US blockade on Iranian crude could remove 1.5-2 million barrels per day from the market, intensifying pressure on energy costs ⚡.
Not investment advice. For informational purposes only.