WS #13259
Trump halts strikes citing deal framework, but Iran denies any agreement to reopen Hormuz, keeping oil supply risk elevated. OPEC+ raises September output by 188k bpd, but Hormuz closure and Russian shortfalls limit actual supply impact. Ukrainian drones hit major Russian refineries and airfields, deepening supply concerns and supporting oil prices. Exxon, Chevron, Shell report record quarterly profits on wartime crude prices, reinforcing energy sector strength.
US-Iran/Hormuz standoff
Trump halts strikes citing deal framework, but Iran denies any agreement to reopen Hormuz, keeping oil supply risk elevated.
OPEC+ raises September output by 188k bpd, but Hormuz closure and Russian shortfalls limit actual supply impact.
Ukrainian drones hit major Russian refineries and airfields, deepening supply concerns and supporting oil prices.
Exxon, Chevron, Shell report record quarterly profits on wartime crude prices, reinforcing energy sector strength.