Morgan Stanley says the oil market is "racing against time"; the reopening of the Strait of Hormuz is critical

Jinse Finance reported that on May 11, Morgan Stanley stated that the oil market is "racing against time." If the blockade of the Strait of Hormuz continues through June, the factors that previously helped curb the oil price surge caused by the Iran conflict may no longer be effective. Analysts including Martijn Rats noted in a report that although there has been a loss of nearly 1 billion barrels of supply, oil futures have not surpassed the 2022 highs because the market entered the crisis with some buffer and investors have been expecting the strait to reopen. (Sina Finance)