Oil hits three-week high on uncertainty over Hormuz
“The shipping risks are increasing again as attacks from Iran and Houthis remain prevalent in both key chokepoints, keeping oil prices supported in the near term.” — June Goh, Senior Analyst at Sparta.
- Expert: June Goh (Senior Oil Analyst, Sparta)
- Publication: Reuters
- Market Focus: Crude Oil, Shipping/Freight Intelligence, Geopolitical Risk
- Geographies: Middle East, Gulf of Oman, Asia
In a recent analysis for Reuters, Sparta’s Senior Oil Analyst, June Goh, flagged that shipping risk around the Strait of Hormuz and Bab el-Mandeb is intensifying again as attacks from Iran and Houthi forces persist at both chokepoints. Brent has now climbed for four straight sessions to $91.71 a barrel, with shipping data showing vessels increasingly avoiding Hormuz amid unclear signals on when the blockade might lift. Goh noted Gulf producers are testing alternative export routes into the Gulf of Oman, which could sustainably lift shut-in production if the workaround holds, though two major Chinese shipping firms have already pulled tankers from both chokepoints entirely. Traders should watch whether the Gulf of Oman reroutes scale up meaningfully, and monitor today’s EIA inventory data for confirmation of the crude and distillate draws already flagged by API.
[Read June Goh’s full commentary in Reuters]
About the Author
June Goh | Senior Oil Analyst, Sparta Commodities
June is a senior oil market analyst at Sparta specialising in global crude trade flows and refining economics across Asia and Europe. Her analysis is regularly cited by Bloomberg, the Financial Times, and Reuters. With a significant following in the energy community on X (@JuneGoh_Sparta), June’s insights are a staple for institutional traders navigating regional market shifts.
Connect: LinkedIn / X
About Sparta
Sparta is a live, market intelligence and forecasting platform that enables oil traders, refiners, banks, hedge funds and wholesalers to have access to real-time and global actionable insights to capture market opportunities before others.
To find out how Sparta can allow you to make smarter trading decisions, faster, contact us for a demonstration at sales@spartacommodites.com
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