Oil Is Market ‘Singularly Focused’ on Hormuz, Vitol Says

Oil markets are currently pricing in the reopening of the Strait of Hormuz sooner rather than later, according to Ben Marshall, CEO of Vitol Group in the Americas.

Markets are “singularly focused” on when barrels start flowing through the Strait of Hormuz at higher levels, he told reporters Monday during the CERAWeek by S&P Global conference in Houston.