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Morgan Stanley Warns of Oil Glut and Cuts Forecasts on Hormuz

Morgan Stanley warns of oil glut, cuts forecasts due to Strait of Hormuz reopening

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10730Jun 30 11:53Jun 30 12:53 UTC

The brief

Morgan Stanley has cut its oil-price target due to the faster-than-expected reopening of the Strait of Hormuz. This development has led to concerns about an oil glut.

Coverage from Reuters, Capital.com, MarketWatch, and Bloomberg.com emphasizes the impact of the Strait of Hormuz on oil prices and forecasts. Morgan Stanley's warning of an oil glut has garnered significant attention.

The situation with the Strait of Hormuz and its effect on oil prices and forecasts will continue to be monitored.

Synthesized by Newsylist from the headlines below under a strict no-invention contract. ✓ fact-checked: all claims supported by sources Updated 1h ago.

Quick answers

What is happening with the Strait of Hormuz?

The Strait of Hormuz is reopening faster than expected

Which financial institutions have cut oil price forecasts?

Morgan Stanley and Barclays have cut their oil price forecasts

What is the concern about the oil market?

There is a concern about an oil glut

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