From the Economist's Chair - Oil in Focus Episode 2

In episode two of “Oil in Focus” podcast series David notes a crude prices slide on expectations of rising Hormuz tanker flows, a potential for misplaced market optimism and looks into crude market surplus.

• Crude prices slide on expectations of rising Hormuz tanker flows, while products crack recover from week-ago slump
• Market optimism following US-Iran MOU may be misplaced if Iran is determined to charge transit fees
• Bearish sentiment also derives from perceived 2027 market surplus
• This is a "paper surplus" as re-stocking demand post-crisis will likely absorb any market overhang in 2027