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2026-03-03 16:19:20 The disruption in the Strait of Hormuz obstructed the transportation of approx. 20% of global oil and liquefied natural gas (LNG); alternative routes cannot fully compensate for the lost volume, HSBC Global Research issued a research report saying. The spare capacity and quota hike of OPEC+ can only provide limited relief, as additional supply remains constrained behind the Strait of Hormuz. The broker expected oil prices to experience significant volatility in the short term, with the duration of the disruption being difficult to predict, but logistical backlog issues are likely to persist. HSBC Global Research anticipated that the initial market reaction will be quite intense, with Brent oil futures potentially rising by about 10% to around US$80 per barrel. New York oil futures, being less affected by the global market, should see a smaller increase than Brent. ~ AASTOCKS Financial News Website: www.aastocks.com | |