WTI $100 June target rises as Strait of Hormuz closure tightens global supply
· flowframe Pulse
The market move follows reports from the IEA identifying the current Middle East conflict as the largest supply disruption in history, with nearly 20 million barrels per day blocked at the Strait of Hormuz. Despite news of a potential 15-point ceasefire plan between the U.S. and Iran, traders are betting that structural deficits will keep prices elevated through the second quarter.
62¢ → 66¢ • Vol: $0.5M