Why the Latest Oil Rally May Be Far From Over ...Middle East

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Why the Latest Oil Rally May Be Far From Over
source : OILPRICE ( Middle East ) () 48
The dual disruption of Hormuz and Bab el-Mandeb is tightening global oil flows, raising transport costs and fueling expectations of $100 oil. Friday, July 24, 2026 The double blockade of the Strait of Hormuz and the Bab el-Mandeb has turbo-boosted oil prices this week, with both ICE Brent and WTI gaining $10 per barrel on the week. Whilst technically the Bab el-Mandeb could be bypassed through the Suez Canal, resulting in longer routes and higher costs, the dramatic decline in transits via the Hormuz should be of particular worry to the oil markets.…

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