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Morgan Stanley says the oil market is "racing against time"; when the Strait of Hormuz reopens is crucial
Golden Finance reported that on May 11, Morgan Stanley said the oil market is “racing against time.” If the blockade of the Strait of Hormuz continues until June, the factors that previously drove a rise in oil prices as a result of the joint effort to curb the Iran war may no longer work. Analysts such as Martijn Rats noted in a report that despite a loss of nearly 1 billion barrels of supply, crude oil futures have never broken through the 2022 highs, as the market entered the crisis with a buffer and investors had been expecting the strait to reopen. (Sina Finance)