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macroJul 9, 2026, 11:45 AM

BNY: Strait of Hormuz Risks Keep Oil Prices Supported

BNY's Geoff Yu notes that oil prices remain supported as shipping through the Strait of Hormuz nears a standstill and ceasefire risks increase. iFlow data shows energy equities flows stabilizing after recent profit-taking.

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BNY's Geoff Yu highlights that oil is back in focus as shipping activity through the Strait of Hormuz approaches a standstill, while ceasefire risks in the region add to supply concerns. The combination keeps crude prices supported, according to the strategist.

The bank's iFlow data indicates that flows into energy equities are stabilizing after a period of profit-taking in June. This suggests that the recent correction may have run its course, with valuations now appearing more attractive and the sector remaining under-owned relative to historical norms.

Source: FXStreet Forex News