In may/june, all analyste promised us a oil at 150 dollars in July because the oil reserves were not enough.
Today we know :
US Oil reserves got +1,7 millions barrels
The demand is lower and lower
USA says 8 millions barrels are from the strait of hormuz
The price can't remain high even the bad news.
Even Asia countries or Mining companies looks much less worried about oil ...
Seriously, Strait of Hormuz is overrated ? The war Russia/Ukrainia was more impactful for US economy with a much stronger inflation.