The price of crude is not reflective of the supply reality in the Middle East, and based on crude trade data, the runway left for this crude reality can be felt by the U.S. midterms.
As the U.S. heads towards the midterms, the crude trade landscape is set to come under increasing scrutiny. With tensions in the Middle East continuing to simmer, the impact on global crude supplies will be a key factor in determining the trajectory of the market.