Crude oil, LNG prices set to plunge once Hormuz reopens

Monday, 08 June 2026

Reopening of the Strait of Hormuz will result in a “quick drop in prices,” though Fitch Rating assumes a five-month closure of the critical waterway through July. Oil markets began to balance in the interim thanks to pipelines, but LNG cargoes stay largely trapped.


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Last modified on Monday, 08 June 2026 06:49
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