Despite the US‑Iran deal and prospects for the Strait of Hormuz to reopen to
shipping — Brent spot has fallen to about $80/bbl — Jyske Bank says oil
production and transport logistics still face major challenges. The bank expects
inventory draws to persist through September and keeps its Brent forecast at
$93/bbl for Q3, easing to $75/bbl by 2Q 2027. On gas, Jyske warns the speed of
Qatar’s LNG ramp‑up to Asia will be critical; the Strait’s reopening reduces
near‑term pressure and global LNG tightness. Diesel is unlikely to sustain
declines because restoring normal flows through Hormuz will be slow and
difficult.
