Uploaded July 2026 | Updated September 2026, 2 weeks ago

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The Strait of Hormuz and the Bab-el-Mandeb Strait in the Red Sea have both effectively seized up, collapsing crude tanker traffic even as prices eased on hopes of de-escalation.

However, Bruno Santos, StoneX Brazil Market Intelligence Analyst, explains why China's inventory drawdown and possible return to the oil market could emerge as one of the biggest swing factors for oil prices in the second half of the year.

View his full report in the related video.