Saudi Arabia increased its oil exports through the Strait of Hormuz, reaching a six-month high after pipeline disruptions. This surge in flows helped stabilize crude prices, with Brent settling around $100 per barrel and WTI in the mid-$90s. Market expectations for an all-time high by September 30 have dropped significantly, falling from 4% to 0.5%. Geopolitical risks remain a concern, with market participants still anticipating potential catalysts for price movement by year-end, with a 12.5% probability for December 31.
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