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WTI fell to near $80.50 in early European trading on Friday, down 2.6% on profit-taking after the prior day's rally. Kpler data showed 14 commodity vessels transited Hormuz on Wednesday, up from single digits the prior week, while the IRGC said the strait would remain closed.
Improving Hormuz traffic and profit-taking pressure crude prices, lowering diesel and freight cost expectations for feed buyers, though conflict rhetoric keeps the risk premium alive.
octaafrica.netJul 31, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
