Maritime Blockade Ends

The 'Civilian Maritime Corridor' is now operational under Pakistani and international monitoring. As the first idled tankers leave the Gulf, the physical shortage premium that has defined the US Gulf Coast market for months is vanishing.

Macro Refocus

Traders are now shifting their focus back to global economic fundamentals and US inventory levels. While domestic demand remains high for the summer season, the return of Middle Eastern barrels is expected to keep prices capped.