Terminal Bottlenecks

Satellite data indicates that while the Strait of Hormuz is open, major loading facilities in the Middle East are operating at reduced capacity due to deferred maintenance during the conflict. This is slowing the actual physical arrival of crude at global hubs.

US Summer Demand Support

Strong US refinery runs and a projected peak in Memorial Day travel are providing a solid support floor. WTI is increasingly trading on domestic fundamentals as global supply normalization hits minor technical snags.