Refining price increases and logistics pressures have eased, and the end users are breathing a sigh of relief.

CryptoWorld News reports that Norbert Rücker, an analyst at Baosheng Group, stated that oil prices are likely to experience a significant decline later this year because the current shock is expected to follow a typical pattern of short-term but intense price fluctuations. He added that the vessel traffic through the Strait of Hormuz is gradually recovering. Over the past two weeks, several large crude oil carriers, small vessels, and liquefied natural gas carriers have left the Gulf and continued heading toward Asia. Although the shipping volume remains only a small fraction of pre-conflict levels, these flows have slightly alleviated the supply shock. Additionally, he mentioned that the global economy has shown strong resilience, with trade recovery easing logistics and refining premiums as well as fuel price increases (except in the United States).