Been watching this closely.
Oil 2026: Why $72 Brent Misreads the Hormuz Truce
Brent round-tripped from a $126 war peak to ~$72 in 2026, but Hormuz traffic is still a third of normal and the ceasefire is only weeks old.
Full analysis:
https://theboard.world/articles/oil-2026-hormuz-ceasefire-risk-premium-unwind
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