Oil Erases Gains as US-Iran Tensions Offset by Hormuz Flows, Weak China Demand
2026-06-11 08:05:00
Oil erased an earlier increase as concerns over fresh attacks between the US and Iran were offset by signs of rising oil flows through the Strait of Hormuz and depressed Chinese consumption. In addition, according to Bloomberg, continued indications of higher shipments through the key waterway and weak demand in China helped cap prices.
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