Lates News

After Trump suggested that the war with Iran may end sooner than expected, crude oil futures continued the downward trend that began later yesterday. Saudi Arabia is increasing the use of its east-west pipeline capacity, which helps the market, but Dennis Kissler of BOK Financial stated in a report that "the real test for oil prices will be when and if oil tankers and ships can safely pass through the Strait of Hormuz." He added, "Oil field production in the Middle East being shut down for a few weeks usually does not put too much pressure on well structures, but if it continues for a month or longer, restoring these volumes may face challenges."