What the Midterms Mean for Oil Prices and Hormuz Oil Flows

Oil prices after midterms fell about 20% in November as markets priced a calmer 2027, yet low inventories keep the physical market tight. Bruno Santos, StoneX Brazil, Market Intelligence Analyst, explains why oil's geopolitical risk premium is shrinking while the barrels behind it remain scarce. U.S. crude stocks sit below the five-year average, the Strategic Petroleum Reserve is near 40% of capacity, and Asia is burning through reserves faster. OPEC+ output and an International Energy Agency surplus forecast offer relief, but Strait of Hormuz flows still lean on fragile routes as tanker attacks continue. 0:00 Midterms Drain the Oil Premium 1:29 U.S. Oil Stocks Below Normal 1:59 Asia Burns Through Reserves 2:58 OPEC+ Adds 2 Million Barrels 4:00 Hormuz Oil Flows Still Fragile 4:29 Turbulence Before a Calm 2027 Discover Actionable Energy Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/energy?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_bruno_santos&utm_content=share Like and subscribe for more financial market insights. #CrudeOil #StoneX #BrunoSantos #StraitOfHormuz --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social