Oil prices rise as attacks dent hopes for Strait of Hormuz reopening
- Expert: June Goh (Senior Oil Market Analyst, Sparta)
- Publication: Al Jazeera
- Market Focus: Crude Oil, OPEC Supply, Freight Intelligence, Risk Premium
- Geographies: Middle East, Asia, Singapore
In a recent analysis for Al Jazeera, Sparta’s Senior Oil Market Analyst, June Goh, flags that OPEC crude production cannot increase until flows normalise in both directions through the Strait of Hormuz, keeping the market structurally short of the barrels it needs.
Brent for October delivery traded at $89.61, roughly 24 percent above pre-war levels, with just 10 vessels crossing the waterway on Monday against about 130 daily transits before the conflict. Goh sees prices fundamentally supported at $85 to $90 per barrel, with only genuine progress in the diplomatic talks capable of breaking that floor. Traders should monitor two-way transit counts through Hormuz rather than headline diplomacy, since flow normalisation is the trigger for OPEC supply to return and for the risk premium to unwind.
[Read June Goh’s full commentary in Al Jazeera]
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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