Markets reverse higher as Strait of Hormuz blockage shows signs of easing
There was lots of drama over the weekend. Sinners. One Battle After Another. A Shakespearean tragedy. The Secret Agent. Mr Nobody Against Putin. And that was just the Middle East — the Oscars were on too. Markets are reversing direction and turning cautiously optimistic after several oil tankers navigated the Strait of Hormuz over the weekend, easing fears of a prolonged disruption to crude flows in the wake of US strikes on Kharg Island. Ships registered to India and Pakistan were granted safe passage, joining Chinese and Iranian vessels already making the transit. Global crude benchmarks are surrendering some of...