Once the IEA report is released, oil prices will be on a roller coaster again—Reopening the Strait of Hormuz is a short-term painkiller, but oversupply in 2027 is the real storyline.

CryptoWorld News: The International Energy Agency (IEA) stated in its monthly oil market report released on Wednesday that the global oil market will gradually recover from the impact of the closure of the Strait of Hormuz, followed by a significant oversupply in 2027. The IEA said that the United States and Iran have reached an agreement to end nearly three months of conflict. The agreement includes Iran reopening the Strait of Hormuz and the U.S. lifting the maritime blockade, which could end the largest oil supply disruption in history, previously causing a reduction of over 14 million barrels per day in Middle Eastern oil production.