WS #13251
Trump halts strikes on Iran citing imminent deal to reopen Hormuz, but Iran denies any agreement, keeping oil prices elevated. OPEC+ approves 188,000 bpd September output hike, completing rollback of voluntary cuts, but actual supply impact limited by Hormuz disruptions. Ukraine strikes Russian oil refineries and airbases, escalating supply-side risks and supporting oil prices.
US-Iran Conflict and Hormuz
Trump halts strikes on Iran citing imminent deal to reopen Hormuz, but Iran denies any agreement, keeping oil prices elevated.
OPEC+ approves 188,000 bpd September output hike, completing rollback of voluntary cuts, but actual supply impact limited by Hormuz disruptions.
Ukraine strikes Russian oil refineries and airbases, escalating supply-side risks and supporting oil prices.