The Commodities Feed: Oil has its worst quarter since 2020

Tanker crossings through the Strait of Hormuz remain severely reduced at approximately 11 per day, down from a peak of 24, amid ongoing geopolitical tensions between the US and Iran, though a slight recovery in inbound traffic suggests cautious confidence returning among shipowners. QatarEnergy has extended force majeure on some LNG shipments to Asia and Europe until August, and in some cases into early September, pointing to a prolonged disruption in LNG supply flows.