Jeff Currie: Strait of Hormuz Flows May Not Normalize Until Year-End

Jeff Currie, Executive Co-Chairman of Abaxx Markets, stated that uncertainty in the Strait of Hormuz remains high and that sustaining a US-Iran ceasefire will be challenging. Currie assessed the impact of the interim agreement on the global oil market, the reasons behind the decline in oil prices, and how quickly Gulf countries can ramp up production. According to Currie, transit through the Strait of Hormuz may not return to normal until the end of the year. This indicates ongoing geopolitical risks and stands out as a factor that could influence price movements in the markets. Commenting on the recent drop in oil prices, Currie said the move is driven by demand concerns and expectations of a supply surplus. He added that Gulf countries could rapidly increase their production capacity, but this could put pressure on market balance. This is not investment advice.

📊 WTI — Piyasa Yorumu

▼ down · 70%

Despite WTI's RSI being in oversold territory at 23.7, both the MACD and signal line remain in negative territory with a continued bearish crossover. The price is trading below both the 20-day and 50-day moving averages. Jeff Currie's statement that flows through the Strait of Hormuz may not normalize until the end of the year could increase supply concerns, exerting downward pressure on oil prices. In the short term, technical indicators are weak, and the news provides a negative catalyst. Therefore, the downtrend is expected to continue.

RSI 14

23.7

MACD

-0.97

24h Δ

-3.52%

📊 BRENT — Piyasa Yorumu

▼ down · 70%

Brent crude has entered oversold territory on technical indicators (RSI 28.5) and is trading below short-term moving averages (SMA20, SMA50). The MACD line is below the signal line and in negative territory, indicating continued bearish momentum. Although a news headline suggests that flows through the Strait of Hormuz may not normalize until the end of the year, raising supply concerns, the technical picture remains weak. In the short term, the downtrend is expected to persist, though some buying on oversold conditions is possible.

RSI 14

28.5

MACD

-0.72

24h Δ

-1.63%

📊 XOM — Piyasa Yorumu

▼ down · 70%

The news indicates that disruptions in the Strait of Hormuz could last until the end of the year, increasing uncertainty over oil supply. This situation may put short-term pressure on energy stocks such as XOM. Technical indicators are already in oversold territory (RSI at 25.4), and the MACD is trending negatively below its signal line. The price is trading well below its 20- and 50-day moving averages. However, oversold conditions could also signal a short-term bounce, so while my bearish outlook is strong, it is not definitive.

RSI 14

25.4

MACD

-2.37

24h Δ

-6.59%

📊 CVX — Piyasa Yorumu

▼ down · 70%

CVX shares have declined 5.4% in the last 24 hours, with the RSI approaching oversold territory at 30.46. The MACD line remains below the signal line and in negative territory, confirming weak momentum. The stock is trading below both its 20-day (185.29) and 50-day (187.37) moving averages. News headlines indicate that flows through the Strait of Hormuz may not normalize until year-end, increasing uncertainty around oil supply. In the short term, downside pressure may persist due to these geopolitical risks and the weak technical outlook.

RSI 14

30.5

MACD

-2.20

24h Δ

-5.42%

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