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Oil traders weigh a Strait of Hormuz reopening that may not arrive
With prospects for an imminent deal fading, market focus shifts to how long the shipping disruption could persist and where prices may turn next.
CNBC Markets highlights that oil traders are still leaning on the prospect that the Strait of Hormuz will reopen, but that optimism is not likely to last indefinitely.
According to CNBC World, the outlook is increasingly shaped by the fading chance of an imminent agreement, pushing traders to look for the next drivers for crude prices as expectations adjust.
Latest closeWTI crude $91.10 ▲3.2%
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