TD Securities global commodities strategist Melek said traders reduced crude net positions this week amid persistent uncertainty over the next phase of the Iran conflict. Melek still expects oil prices to continue rising, saying there is no sign ship

2026-09-01

TD Securities global commodities strategist Melek said traders reduced crude net positions this week amid persistent uncertainty over the next phase of the Iran conflict. Melek still expects oil prices to continue rising, saying there is no sign shipping through the Strait of Hormuz will return to normal in the near term.