Strait of Hormuz Reopens Faster Than Expected, Morgan Stanley Cuts Oil Price Forecast
📡 MarketWatch · 1 min read ·
Part of composite article Oil Glut Panic: Producers ‘Desperate’ to Dump Stored Crude as Tankers Dodge Iran’s Strait Toll View full article →
The Strait of Hormuz is reopening more quickly than analysts predicted, according to Morgan Stanley. The bank’s oil experts have lowered their price targets for crude oil this year and next, citing the faster-than-expected return to normal operations in the key shipping channel.