The Oil Market Could Be Weeks From a Breaking Point | EN590 Commodities
EN590 Commodities GroupCrude Oil June 13, 2026
U.S. Military Helping Move 7 Million Bpd Out of Persian Gulf, Wright Says What I Cover
Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Three and a half months after the blocked Strait of Hormuz created the worst oil supply disruption in history, oil prices remain below $100 per barrel amid hopes of an imminent U.S.-Iran deal. It’s not only hopes that have been keeping prices much lower than a sudden disappearance of 13 million barrels per day (bpd) of supply would warrant. The market has had major buffers to rely on. China, the world’s top crude importer, slashed imports to multi-year lows, while the U.S. boosted its crude exports to a record high. Strategic releases of oil st
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