Lates News

Despite the prospect of the Strait of Hormuz reopening to shipping with the agreement between the US and Iran and the spot price of Brent crude oil falling to around $80, Jyske Bank stated that there are still "huge challenges" in the normalization of oil production and transport logistics. The bank expects the downward trend in crude oil inventories to continue until September and maintains its forecast of $93 per barrel for Brent crude oil in the third quarter, which will then fall to $75 in the second quarter of 2027. Regarding natural gas, the bank emphasized the importance of Qatar's resumption of liquefied natural gas (LNG) exports to Asia. "However, the reopening of the Strait of Hormuz has eased the pressure and alleviated the global shortage of LNG," the bank added. The bank also noted that diesel prices are unlikely to continue to fall steadily, as the process of returning to normal after the reopening of the Strait of Hormuz will be long, difficult, and challenging.