Oil moved higher as traders focused on the risk of supply disruption in the . Iran started charging transit fees on some commercial vessels using the route, adding fresh concern about energy flows through one of the world’s most important shipping channels.
Matt Maley at Miller Tabak said, “It all comes down to the re-opening of the Strait of Hormuz.” He added that “if we hear that ‘good progress is being made’ in the negotiations at the end of this week, it won’t be enough, if the Strait remains very restricted.” His comments showed that markets are now watching shipping access more closely than political statements.
Helima Croft, head of global commodity strategy at RBC Capital Markets, said, “We are not dealing with single decision-maker dynamics.” She added that “multiple stakeholders have a say in how this war ends, and ships, not soundbites, will likely be what ultimately matters for physical markets.” That view matched the market’s sharp response to overnight attacks and rising oil prices.