WS #13261
Trump halts Iran strikes pending a deal to reopen Hormuz, but Iran denies any agreement, keeping oil supply risk elevated. Ukrainian drone strikes hit Russian refineries and airfields, reducing Russian refining capacity and supporting refined product prices. OPEC+ approves 188k bpd September hike, but actual supply remains constrained by Hormuz closure and Russian output shortfalls.
US-Iran de-escalation and Hormuz
Trump halts Iran strikes pending a deal to reopen Hormuz, but Iran denies any agreement, keeping oil supply risk elevated.
Ukrainian drone strikes hit Russian refineries and airfields, reducing Russian refining capacity and supporting refined product prices.
OPEC+ approves 188k bpd September hike, but actual supply remains constrained by Hormuz closure and Russian output shortfalls.