JPMorgan forecasts Strait reopening in June
The Strait of Hormuz closure is pushing oil markets toward a supply tipping point.
A prolonged closure could push Dated Brent to $150 per barrel.
The closure remains a significant concern for the oil market, with a ceasefire in place but considered fragile.
The situation is seen as a race against time, with most market buffers preventing a rally to record highs potentially being exhausted before the Strait reopens.