Tightness today versus risk of surplus tomorrow

Råvarumarknaden

4 september 2026, 18:40

Oil markets remain tight as the Strait of Hormuz (SoH) continues to be constrained.

Things could become much tighter if it is fully closed. However, the outlook could change rapidly if flows normalise in early 2027.

A large underlying surplus, rebuilding supply and the risk of more volume from OPEC+ could turn today’s tightness into.

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