Adnoc Gas Expects Strait of Hormuz Closure to Hit -2-

Concerns are rising regarding the potential closure of the Strait of Hormuz due to doubts surrounding the U.S.-Iran ceasefire, which could lead to rising oil prices and instability in the global energy market. HSBC has revised its Brent crude price forecast upwards, anticipating a return to near-normal production and flows by the end of 3Q26. The U.S. government is considering suspending the gasoline tax, reflecting concerns over rising fuel prices.