Arab satellite, Gulf energy focus
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Al Jazeera · Qatar · Hormuz reopening faster than expected raises oil glut risk as China cuts imports
Investigated the paradox of a reopening strait causing price pressure: Morgan Stanley cut Brent forecasts twice in two weeks as convoys resumed; noted HSBC's 'mini-glut' warning as stranded tankers cleared; explained the 60-day interim deal and the August 21 sanctions-relief expiry as the twin clocks now running.
“With Hormuz reopened, has the oil shortage turned into a glut? Morgan Stanley cuts forecasts as stranded crude flows back into a weakened market.”