Brent near USD 100 again(!)… SPR headlines cannot replace Hormuz flows
Brent crude is trading higher overnight, up roughly USD 4.
5/bl from yesterday’s close. That said, prices were at one point up nearly USD 8/bl during the night before easing back this morning.
Brent is currently hovering around USD 98/bl.
This week has been extraordinarily volatile.
We have seen intraday highs at USD 119.
5/bl and intraday lows.