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Iran-US deal signed: 62 million barrels set to leave Hormuz as Asia braces for oil glut

Times of India

WorldTimes of India·Jun 18, 2026·1 min read

Iran-US deal signed: 62 million barrels set to leave Hormuz as Asia braces for oil glut

The Strait of Hormuz is set to reopen after a US-Iran deal, potentially flooding Asian markets with millions of barrels of crude. Refiners, already well-supplied and reducing processing, now face worries of oversupply. This shift from…

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