Strait of Hormuz Closed 100 Days, Oil Prices Stable Amidst Crisis

The Strait of Hormuz has been closed for 100 days, yet oil prices have not surged as expected. Data suggests that lost Gulf oil exports are significantly smaller than anticipated, according to traders and shippers. A CEO of an oil tanker company indicated that traffic may increase if a deal is reached between the U.S. and Iran. The stability of oil prices during this extended closure could impact market expectations and trading strategies moving forward.