WS #13260
Trump halts strikes on Iran conditional on a deal to reopen Hormuz, but Iran says the situation has 'permanently changed' and negotiations with Oman are in final stages, creating mixed signals for oil prices. OPEC+ approved a 188,000 bpd production increase for September, but it is unlikely to immediately boost supplies due to Hormuz closure and Russian output constraints. Ukraine struck the Saratov oil refinery and Engels airfield, killing eight, escalating attacks on Russian energy infrastructure and supporting refined product prices.
US-Iran de-escalation and Hormuz
Trump halts strikes on Iran conditional on a deal to reopen Hormuz, but Iran says the situation has 'permanently changed' and negotiations with Oman are in final stages, creating mixed signals for oil prices.
OPEC+ approved a 188,000 bpd production increase for September, but it is unlikely to immediately boost supplies due to Hormuz closure and Russian output constraints.
Ukraine struck the Saratov oil refinery and Engels airfield, killing eight, escalating attacks on Russian energy infrastructure and supporting refined product prices.