Oil shipments through the Strait of Hormuz have recovered once again, even though indirect negotiations between the United States and Iran have yet to reach a conclusion. Yuanta Securities noted that Kpler data shows the seven-day average volume of oil passing through the Strait of Hormuz at 13.2 million barrels per day, or 77% of the pre-war level of 17 million barrels per day. Meanwhile, Saudi Arabia has resumed pipeline shipments of 3.5 million barrels per day, or 50% of its maximum capacity of 7 million barrels per day. However, although oil prices have weakened, US bond yields are still rising on inflation concerns, so the research team expects only a slight positive effect on emerging markets today.
Hormuz oil flows recovered to 77% of pre-war levels and Saudi pipeline shipments resumed, easing supply and weakening oil prices.
US bond yields are still rising on inflation concerns even as oil weakens, per the article.
