Rabobank: Hormuz Strains Keep Oil Prices Elevated
Rabobank strategist Benjamin Picton points to recurring Strait of Hormuz tensions as a key factor pushing oil prices higher.
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Rabobank’s Senior Market Strategist Benjamin Picton highlights that persistent Middle East tensions surrounding the Strait of Hormuz are keeping oil markets on edge.
The narrow waterway is a critical transit point for a significant portion of global crude, and any disruption could quickly tighten supply.
As a result, the strategist suggests that this recurring geopolitical risk continues to underpin crude prices, adding a premium that is likely to remain as long as the situation remains unresolved.
Source: FXStreet Forex News