The CEO of Saudi Aramco, Saudi Arabia’s state-owned petroleum and natural-gas company, said that rebuilding global crude oil inventories could take longer than expected, even after transit normalizes through the Strait of Hormuz. Washington and Tehran have yet to find a resolution to their tensions, which continues to fuel uncertainty over Middle East crude supplies. Some market participants, however, point out that record oil production and alternative delivery routes could accelerate recovery once the Strait of Hormuz fully reopens.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
