Oil slides as Hormuz risk premium fades; further downside possible if shipping normalises: Energy expert
Crude oil prices plunged more than 10% and Wall-Street rallied at the opening bell after Iran’s foreign minister said the Strait of Hormuz would remain open for commercial shipping during the ceasefire period, triggering a sharp unwind of geopolitical risk premium built into energy markets. Energy consultant Ali Al-Riyami said the announcement had been interpreted…
