Oil market outlook: uncertain path to normalcy as Hormuz risks linger

In the latest episode of the Energy Connects podcast, host Chiranjib Sengupta talks to Vandana Hari, Founder & CEO of Vanda Insights and Energy Connects columnist, explores the uneven recovery of oil flows following the US–Iran peace deal. Highlighting how oil markets are cautiously moving towards normalcy despite persisting uncertainty around the Strait of Hormuz, Vandana warns against reading too much into short-term data. She also discusses ongoing geopolitical risks, the role of strategic reserves in stabilising prices, and why oil did not surge to levels beyond $120 during the crisis. The conversation also looks at diversification of supply routes and offers a pragmatic outlook on long-term oil demand, highlighting its continued importance in meeting rising global energy needs.