David Hoffman Says Low Oil Prices May Reflect Reduced Reliance on the Strait of Hormuz

Bankless founder David Hoffman said oil prices have remained low despite ongoing geopolitical tensions, suggesting markets may be adapting and reducing reliance on key energy routes. According to Odaily, Hoffman wrote on X that after recent developments, oil prices are still subdued and that the importance of the Strait of Hormuz may be permanently weakening as markets shift to other routes to bypass the channel. The market view cited in the report said the global energy supply chain may be reducing dependence on a single strategic waterway through diversified transport routes, alternative supply channels, and infrastructure adjustments.