economy
What energy insiders in DC are saying about oil prices and a possible Iran deal
Brian Sullivan shares his insight from the sidelines of the Global Energy Forum in Washington, DC.
TL;DR
- Ship traffic in the Strait of Hormuz is rising, though not yet at prewar levels.
- Accurate tracking of ship movements is difficult and expensive, especially when transponders are turned off.
- A July 'open' of the Strait is critical for the supply of refined products.
- The longer supply disruptions last, the more likely storage will run empty.
- Both the US and Iran are looking for an exit strategy.
- President Trump claims an Iran deal is in place.
- The Strategic Petroleum Reserve's status is a concern, particularly around the 300 million barrel level.
- Energy and healthcare stocks have performed well recently.
- Vertiv, nVent Electric, and Trane Technologies are highlighted as strong investment opportunities in the power and cooling sector.