Energy & Petrochemicals #iran#us
Iran-US Peace Deal Reopens Hormuz: 62 Million Barrels Set to Flood Market, Asia Braces for Oil Glut
The US-Iran peace deal has ended the blockade of the Strait of Hormuz, releasing 62 million barrels of crude stranded in supertankers. Asian refiners, who secured alternative supplies during the conflict, now face a potential oil glut. The forward curve for Middle Eastern grades has shifted into contango, signaling bearish sentiment.
Jun 18, 2026 1 source