No reopening of SoH anytime soon. Winter could be expensive for oil product consumers

The SoH doesn’t look like it will open any time soon sending Brent crude sharply higher.

The Brent crude M1 contract has rebounded sharply since the middle of last week (+10%) following earlier sharp declines on hopes on an imminent deal between Iran  and Oman on how to operate the SoH in the future. Negotiations which.