Brent near $106 as Xi Jinping and Donald Trump meet
NewsBytes | May 14, 2026 10:39 AM CST
Strait of Hormuz oil flows cut
Meanwhile, conflict in the Middle East has seriously disrupted oil flows, especially through the crucial Strait of Hormuz, with nearly six million fewer barrels moving each day since late February.
On top of that, Iran's exports have dropped further due to a US naval blockade, and with a US waiver on Russian oil imports set to expire soon, countries like India could feel the impact.
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