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Morgan Stanley warned oil markets face a tightening supply crunch if the Strait of Hormuz stays closed into late June or July, calling it a "race against time." Current inventory buffers can absorb short-term disruption, but will weaken if the closure extends further, pushing crude prices higher.
Oil price forecasts are moving higher as markets price in the risk of a prolonged supply disruption tied to the conflict involving Iran. Iran is a major OPEC producer, and a sustained outage would tighten global crude supply. Higher oil prices could raise import costs and fuel prices in India and other large importers.
Oil prices jumped after the US blockaded Iranian ports, raising fears of a sustained supply shortfall. Trump met oil company executives to explore ways to cushion the hit to fuel supplies. How long the blockade lasts and whether other producers respond will drive prices from here.
The UAE will exit OPEC on May 1, ending over 60 years of membership and removing one of the group's largest producers from its output coordination framework. The loss weakens OPEC's ability to manage global crude supply and defend prices. Regional tensions tied to the Iran conflict appear to have hastened the split.
More than 500 million barrels of Iranian crude and condensate have been removed from global markets in roughly 50 days since conflict began in late February, per Kpler data. The supply loss, worth approximately $50 billion, is pressuring Asian refiners to secure alternative barrels and raising questions about OPEC+
Tag
Morgan Stanley warned oil markets face a tightening supply crunch if the Strait of Hormuz stays closed into late June or July, calling it a "race against time." Current inventory buffers can absorb short-term disruption, but will weaken if the closure extends further, pushing crude prices higher.
1mo ago · 2 min · Markets
Oil price forecasts are moving higher as markets price in the risk of a prolonged supply disruption tied to the conflict involving Iran. Iran is a major OPEC producer, and a sustained outage would tighten global crude supply. Higher oil prices could raise import costs and fuel prices in India and other large importers.
2mo ago · 1 min · Global Affairs
Oil prices jumped after the US blockaded Iranian ports, raising fears of a sustained supply shortfall. Trump met oil company executives to explore ways to cushion the hit to fuel supplies. How long the blockade lasts and whether other producers respond will drive prices from here.
2mo ago · 1 min · Global Affairs
The UAE will exit OPEC on May 1, ending over 60 years of membership and removing one of the group's largest producers from its output coordination framework. The loss weakens OPEC's ability to manage global crude supply and defend prices. Regional tensions tied to the Iran conflict appear to have hastened the split.
2mo ago · 1 min · Global Affairs
More than 500 million barrels of Iranian crude and condensate have been removed from global markets in roughly 50 days since conflict began in late February, per Kpler data. The supply loss, worth approximately $50 billion, is pressuring Asian refiners to secure alternative barrels and raising questions about OPEC+
2mo ago · 1 min · Markets
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