Post by S&P Global

From S&P Global Energy: Asian crude oil importers, such as India, should not expect an immediate respite from a tighter global crude supply situation despite the peace deal between the US and Iran, as it will take months for flows through the Strait of Hormuz to normalize, Shrikant Madhav Vaidya, former chairman and managing director of state-run Indian Oil Corp., said June 15. The comments came as US President Donald Trump announced the completion of a US-Iran peace deal that would reopen the Strait of Hormuz and lift the US blockade of Iranian ports. Crude oil futures fell to three-month lows in midmorning trading in Asia on June 15 after Trump's announcement. Read more: https://okt.to/k3QBEZ