Commonwealth Bank of Australia analyst Vivek Dhar stated that as long as the Strait of Hormuz remains closed, oil prices face greater upside risks than downside potential. He noted, "The supply shortfall resulting from the Iran conflict is generating robust immediate demand for spot cargoes." Dhar further commented, "If the Strait of Hormuz continues to be largely shut, the physical market will ultimately exert influence on futures markets."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments