Brent Is No Longer Needed. Forecast as of 24.06.2026

Oil shipments through the Strait of Hormuz have quickly returned to normal after the conflict. With Gulf countries also ramping production back to pre-war levels, Brent prices are coming under pressure. Let's explore the key factors and develop a trading strategy.Major Takeaways Demand for oil in Asia is falling rapidly. The Persian Gulf is ramping up production. Oil transit through the Strait of Hormuz has resumed. If Brent fails to return to $79, short trades can be opened.Weekly Fundamental F