Questions remain over what reopening of Strait of Hormuz means: Oil analyst #CNA

Questions remain over what reopening of Strait of Hormuz means: Oil analyst
Asian stocks climbed in early trading on Wednesday (Apr 8) as traders in the region reacted to the US-Iran two-week ceasefire announcement, with Tehran temporarily to reopen the vital Strait of Hormuz. Oil prices also plunged, with the US crude benchmark West Texas Intermediate tumbling nearly 20 per cent – an unusually steep fall – at one point. Andrew Lipow, president of oil market consulting firm Lipow Oil Associates, tells CNA’s Asia First there is still “a long road to go” to return to “something resembling normalcy”.

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