WS #12875
Oil prices fell ~8% as US and Iran paused hostilities and restarted talks, with Iran and Oman negotiating to reopen the Strait of Hormuz, countering the supply disruption thesis. Houthis claimed drone strikes on Saudi oil facilities and aim to replicate Iran's Hormuz strategy in the Red Sea, threatening a new front in the conflict.
Oil Plunge on US-Iran De-escalation
Oil prices fell ~8% as US and Iran paused hostilities and restarted talks, with Iran and Oman negotiating to reopen the Strait of Hormuz, countering the supply disruption thesis.
Houthis claimed drone strikes on Saudi oil facilities and aim to replicate Iran's Hormuz strategy in the Red Sea, threatening a new front in the conflict.