Oil Headed for Largest Quarterly Price Drop Since 2020
Bloomberg 2026-06-30 10:42:29
Context: Oil prices are poised for their largest quarterly decline since the pandemic, driven by increased flows through the Strait of Hormuz. This development follows progress on a peace deal between the US and Iran. The forecast comes as Morgan Stanley warns of a potential glut in the market.
Key Facts
- Oil is set for the biggest quarterly decline since the pandemic, according to a report, as market trends and supply chain dynamics continue to evolve.
- The increase in oil flows through the Strait of Hormuz was triggered by progress on a peace deal between the US and Iran, a critical development in global geopolitics and energy markets.
- Morgan Stanley is warning of a potential glut in the market, highlighting concerns about oversupply and its implications for oil prices in the near future.