Oil prices consolidate around recent highs amid renewed US-Iran attacks as traffic in the Strait of Hormuz comes to a halt

FUNDAMENTAL OVERVIEW Oil prices remain skewed to the upside in the short-term as the renewed US-Iran escalation increased the geopolitical risk premium. Given the intensification of military strikes in recent days, the traffic in the Strait of Hormuz came to a halt . After roughly seeing traffic of around 30-40 vessels transit through the strait in recent w…

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