The Commodities Feed: Oil under pressure amid rebound in Middle East flows
Oil flows through the Strait of Hormuz are continuing to normalise following earlier disruptions, with the ICE Brent curve moving into contango as the prompt market becomes increasingly oversupplied. Separately, Emirates Global Aluminium has restarted around 7% of production pots at its Al Taweelah smelter, signalling a gradual easing of Gulf supply and shipping disruptions that had previously impacted the region.