Oil's Path Is Not A One-Way Strait

UBS provides an update on oil market dynamics following the reopening of the Strait of Hormuz and analyzes the economic impact of the record-breaking European heatwave.

Key Takeaways

• 1.The recent decline in oil prices is expected to reverse as market normalization through the Strait of Hormuz will be slower than current price action suggests.
• 2.Europe's record June heatwave highlights the long-term investment case for climate adaptation, infrastructure, and energy efficiency.

Table of Contents

• From Circle One
• What to watch: 29 June
• Thought of the day
• Caught our attention
• Market update
• Global asset class preferences definitions
• Appendix

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