market data, commodity pricing
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Bloomberg · United States · Brent slips to $69.42, first contango since the Hormuz war, as ceasefire supply returns
Bloomberg reported at 12:05 AM UTC that Brent had fallen to $69.42, with the futures curve flipping into contango for the first time since before the Hormuz closure, as Iranian and Gulf crude volumes re-enter the market following the June 17 ceasefire.
“Brent crude fell to $69.42 on Thursday, flipping into contango for the first time since before the Hormuz closure as post-ceasefire supply volumes build.”