Namely, prices fell on Friday, with the benchmark losing about 10 percent after Tehran announced it would allow merchant ships to pass through this key sea route for oil exports.
However, the situation soon changed. Osama Rizvi, a market strategist at consultancy Primary Vision, estimates that prices will return to high levels very soon.
“I expect prices to approach their highs again as soon as the markets open,” he said.
Although the strait is not completely closed and Iran still lets a certain number of ships through, traffic has been significantly reduced. The amount of oil passing through that route has dropped from around 20 million barrels per day in 2025 to only three to four million.
Such a decline is already causing shortages, especially in Asian markets, which additionally affects global energy flows. According to analysts, precisely these shortages have an impact on the current negotiations between Iran and the United States of America.
(Vijesti.ba)
