The Hormuz Blockade Impact

The effective closure of the Strait of Hormuz has removed approximately one-third of global seaborne crude trade. Even with record U.S. production, the physical deficit is growing daily.

SPR Strategy Under Fire

With the 400-million-barrel SPR release already underway, traders are questioning what tools remain if the conflict extends into the summer driving season. WTI is now trading at a significant premium to its January levels.