WS #13257
Iran officially denies any agreement to reopen the Strait of Hormuz, calling reports false and keeping the strait closed, which escalates oil supply risk and undermines de-escalation hopes. OPEC+ approved a 188,000 bpd September production increase, but ongoing Hormuz closures and Ukrainian drone strikes on Russian refineries limit its market impact, keeping oil prices elevated. Ukraine struck a major Russian oil refinery and Wildberries logistics hub, deepening supply disruption fears and supporting oil prices.
Iran denies Hormuz deal, escalating oil risk
Iran officially denies any agreement to reopen the Strait of Hormuz, calling reports false and keeping the strait closed, which escalates oil supply risk and undermines de-escalation hopes.
OPEC+ approved a 188,000 bpd September production increase, but ongoing Hormuz closures and Ukrainian drone strikes on Russian refineries limit its market impact, keeping oil prices elevated.
Ukraine struck a major Russian oil refinery and Wildberries logistics hub, deepening supply disruption fears and supporting oil prices.