Oil ends little changed in sideways trade
The global oil market will continue to see disruption and price volatility even if transit through the Strait of Hormuz is partially resumed, Neil Crosby of Sparta Commodities says in a note. Upward pressure on crude has eased following U.S. offers of financial and naval support for shipping in the Persian Gulf. But “the idea that things return to normal once ships start moving again is misleading,” Crosby says. The market isn’t just pricing the closure of Hormuz, but also damage to infrastructure and logistics across the Gulf region. “Prices, freight rates and refining margins could remain under pressure for weeks, even if traffic through the Strait begins to recover.”
Wall Street Journal, March 5, 2026 – Even if tanker traffic through the Strait of Hormuz begins to recover, oil markets are unlikely to return to normal quickly. As Neil Crosby notes, the market is not only pricing the disruption to shipping but also wider risks to infrastructure, logistics and regional supply chains across the Gulf. That means crude prices may stabilise somewhat, but freight rates, refining margins and broader oil flows could remain under pressure for weeks, keeping volatility elevated as traders assess the pace of any recovery.
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