Iran disruption tracker #71: 2 steps forward, 1 step back has WTI back below $90/bbl!

Research evidence excerpt

Iran disruption tracker #71: 2 steps forward, 1 step back has WTI back below $90/bbl!

June 11, 2026

Summary

What changed today vs yesterday

●Maximum pressure: POTUS weighs expanded strikes on Iran stating he is considering targeting Iranian power

plants and bridges, arguing Tehran has been moving too slowly in negotiations. "I may keep going," Trump said,

adding that Iran had "a chance to sign a deal and survive."

●Trump claims 'secret Hormuz operation': POTUS said he directed the U.S. military to covertly support commercial

shipping through the Strait of Hormuz, claiming the effort helped move more than 100mm bbls into global

markets, at a rate if 2mm bps and enabling >200 commercial ships to transit safely. Trump said the US, not Iran,

effectively controls the waterway.

●Shell warns oil rebalancing could take over a year: Shell CEO Wael Sawan said restoring equilibrium to the

oil market could take "close to a year, if not longer," even if disruptions ease, as the industry is drawing heavily

on global reserves. The world is effectively "borrowing from the future," leaving the system vulnerable to further

shocks.

●Kazakhstan buyers demand maximum supply: Energy Minister Yerlan Akkenzhenov said crude buyers are urging

the country to deliver the highest volumes possible as Strait of Hormuz disruptions tighten markets. Infrastructure

constraints limit its ability to increase production beyond current levels.

●China Taps Strategic Oil Stockpiles: China has begun drawing down its vast strategic and commercial crude

reserves withdrawals ~1mm bpd over the coming months - but aftre accumulating 1.2–1.3bn bbls before the

conflict, Beijing continues to avoid expensive prompt cargoes while cushioning domestic supply.

●U.S.