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economicJun 3, 2026
Why oil prices have defied US$200 forecasts despite Hormuz closure
Summary
Why oil prices have defied US$200 forecasts despite Hormuz closure An oil glut, emergency release of reserves, a US shale boom and China’s absence in the market have played a part - Brent crude, the global benchmark, was trading at about US$96 a barrel on Jun 3.
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USIsraelIranChina
Sources
- Mohan KuppusamyBy Mohan Kuppusamy
Why oil prices have defied US$200 forecasts despite Hormuz closure An oil glut, emergency release of reserves, a US shale boom and China’s absence in the market have played a part - Brent crude, the global benchmark, was trading at about US$96 a barrel on Jun 3. PHOTO: REUTERS A …
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