Oil nears $90 as Hormuz hopes fade: Why the shock may last months
Oil markets are sending a contradictory signal: Brent crude is back around $90 a barrel even as investors continue to price the possibility that the Strait of Hormuz could eventually reopen. The tension reflects a key problem facing the global economy: A diplomatic agreement could restore shipping through the world's most important energy chokepoint, but reopening the waterway would not instantly…
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