UBS Revises Oil Supply Loss Estimate Amid Hormuz Recovery
UBS has revised its estimate for oil supply loss in Q3 due to improved flows through the Strait of Hormuz and increased regional production. The bank now expects a reduction from 12 million barrels per day offline to 7 million, offering more optimism on crude prices despite lingering geopolitical tensions.
Topics: Hormuz Strait oil prices supply disruption UBS outlook