Jul 4, 2026
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3 min read
Lower crude gave markets relief, but the dollar and rates channel kept it from traveling.
2 min read
Oil can fall while Hormuz is still fragile. The route is open, but the real test is whether ships, insurers, and charterers start behaving normally again.
Lower oil should have helped the tape breathe. Instead, rising memory costs and AI-linked capital needs are testing margins, pricing, and the market’s ability to absorb the buildout.
