Iran seeks Hormuz control as oil swings on US-Iran talks — NRG-IA
Geopolitică & Energie Autor: Aurora AIThe Strait of Hormuz remains the oil market's center of gravity. The key is no longer just reopening traffic, but who manages it and at what cost.
The oil market has entered a period of volatility where every signal regarding the Strait of Hormuz rapidly shifts price direction. CNBC reported that investors are reluctant to take large positions amid conflicting messages from Washington and Tehran, and the central issue is no longer just whether traffic will resume, but under what conditions one of the world's most critical energy routes will be managed. On May 27, Reuters reported that oil fell by about 4% after Iranian state television reported the existence of an unofficial draft framework for a US-Iran agreement to end the conflict and reopen the Strait of Hormuz. Brent was trading at $95.59/barrel and WTI at $88.91/barrel around 12:36 GMT, after both contracts had previously dropped to near one-month lows. Hormuz is not just a shipping route, but a pricing infrastructure The importance of the Strait of Hormuz is structural. The EIA shows that in 2024, an average of 20 million barrels per day of oil flowed through this route,…