Energy · World

Oil Market Sees Contango Shift Amid Rising Hormuz Supply

2 sourcesFirst reported 28 days agoUpdated 27 days ago

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The oil market has experienced a significant increase in supply due to cargoes from the Strait of Hormuz.
An agreement between the US and Iran has led to the reopening of the waterway.
For the first time since February, a key oil spread has shifted to a bearish contango structure.

Generated by AI from the 2 sources below · always verify with the originals

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AI summary: catch up in 20 seconds

The oil market has experienced a significant increase in supply due to cargoes from the Strait of Hormuz.
An agreement between the US and Iran has led to the reopening of the waterway.
For the first time since February, a key oil spread has shifted to a bearish contango structure.

Generated by AI from the 2 sources below · always verify with the originals