Strait of Hormuz reopens: oil markets flooded with supply after US-Iran deal
Oil markets are being rapidly flooded with supply as a stream of tankers accelerates through the Strait of Hormuz following a US-Iran agreement to reopen the waterway. Key segments of the crude oil market are suddenly awash in supply, putting downward pressure on prices. The surge in Hormuz shipments marks a significant shift in the global oil supply balance.
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