For more than three months, oil market participants have hoped that the Middle East conflict would be resolved any day now, while about 13 million barrels per day (bpd) have been wiped off global supply due to the closed Strait of Hormuz. The oil futures market has been mostly guided by sentiment and traders’ hopes of an imminent peace deal – as U.S. President Donald Trump has been touting for wee
Energy OilPrice.com Jun 9, 2026