finance
No Oil Tankers Transit Strait of Hormuz in Past 24 Hours
No confirmed oil shipments passed through the Strait of Hormuz over the last day. The absence of traffic lifted the futures price for August WTI crude above $82 a barrel.
Jul 18, 2:40 AM·1m read4 sources
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No oil tankers completed confirmed transits through the Strait of Hormuz during the past 24 hours.
Futures prices reflect what traders expect oil to cost in August rather than the immediate spot price.
Countries hold the option to release additional oil from strategic reserves in an effort to moderate price increases. Such releases remain limited in duration if tanker traffic does not resume.
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