This episode examines how the Israel-Iran conflict and concerns over the Strait of

Hormuz sent shockwaves through oil markets, driving up prices and altering

trade flows. We also explore the ceasefire’s impact, the potential return of

Iranian crude, and its implications ahead of the July 6 OPEC+ meeting.

Topics Covered:

• Israel-Iran Conflict Escalation: How missile strikes and retaliations rattled

oil markets and spiked prices.

• Strait of Hormuz Fears: The chokepoint’s strategic importance and its

impact on Mideast Gulf crude premiums.

• Winners and Losers: How Murban and Oman crude gained a temporary

edge due to bypass routes.

• Atlantic Basin Crude Surge: Why Brent-linked grades and regional sweet

crudes saw a demand boost.

• Ceasefire Impact: Market cooldown, but lingering caution and elevated

premiums.

• Iranian Oil Speculation: Confusion over potential sanction relief and what it

could mean for Asian refiners.

• Geopolitical Risk vs. Fundamentals: The market’s balancing act ahead of

the July 6 OPEC+ meeting.