What’s next for the Strait of Hormuz?
Enverus Intelligence® Research’s latest Strait of Hormuz outlook highlights a stocks-driven “higher for longer” setup, modeling OECD crude and product inventories falling from 2.82 Bbbl (YE25) to a 2.36 Bbbl trough in Q4 2026. The report also flags a potential $5–$10/bbl geopolitical risk premium that could remain embedded in Brent even as flows gradually normalize.