Supply recovery, not demand, will be oil market's key test: Vandana Hari

Vandana Hari tells ET Now that oil markets are moving in the right direction, with Brent at $83-84, down ~$11 from pre-war highs, but traders are likely to remain anxious until a formal MoU is signed. She expects normalization of Strait of Hormuz traffic and Persian Gulf production to take at least 2-3 months, does not see crude revisiting $60-65 lows anytime this year or potentially early 2027, and argues that the recent demand impact was erosion rather than true destruction, with curtailed demand likely to return quickly as prices stabilize.