Recovery in the Strait of Hormuz Pushes Brent Crude Below $75

The normalization of tanker traffic in the Strait of Hormuz and expectations of continued diplomatic contacts between Russia and the US have reduced the geopolitical risk premium in oil markets. These developments have driven Brent crude prices back to pre-conflict levels. As geopolitical tensions ease, investor risk appetite has increased, while concerns over oil supply have diminished. Signs of recovery in the Strait of Hormuz have strengthened hopes that disruptions in the global oil supply chain can be resolved. Brent crude fell below $75 under the influence of these developments, marking one of its lowest levels in recent times. Analysts note that in addition to the reduction in geopolitical risks, the global demand outlook is also putting pressure on prices. Markets will closely monitor developments in Russia-US relations and the situation in the Strait of Hormuz in the coming period. Oil prices are expected to fluctuate around these levels in the short term. This is not investment advice.