Dubai, Murban Curves Flip Into Contango as US-Iran Deal Reopens Strait of Hormuz

3 articles · Updated · Bloomberg · Jun 16

Dubai and Murban forward curves turned to contango for the first time since the war began, signaling a sharp easing in immediate supply fears across Middle Eastern crude markets.
The shift followed a US-Iran agreement to reopen the Strait of Hormuz, which raised expectations that more oil will flow from the region.
Prompt crude contracts now trade below later-dated ones — a reversal from wartime tightness that points to weaker near-term pricing and improved supply confidence.

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