Standard Chartered: Oil Markets Must Now Price Two Middle East Chokepoints | EN590 Commodities
EN590 Commodities GroupCrude Oil July 27, 2026
Oil Prices Plunge 5% After U.S. and Iran Halt Attacks Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. Oil prices gave up earlier gains on Friday after reports thatPakistan is trying to brokera return to U.S.-Iran nuclear negotiations. China is strongly backing the effort as the conflict and the closure of the Strait of Hormuz continue to threaten its energy security and weigh on its economy. Brent crudefor September delivery fell 4.4% to trade at $96.36 per barrel at 1.35 pm ET while WTI crude for September delivery was down 3.6% to change hands at $88.86/bbl.However, Standard Chartered says the latest pullback may prove temporary as Middle Eastoil market riskhas expanded from one strategic chokepoint to two. On Monday,Yemen's Houthi militant g
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