WS #13363
Trump cancels strikes on Iran, claims Hormuz reopening, oil drops ~5%, fueling record Dow close and tech rally. Chevron and Exxon report record profits, Trump criticizes them, adding political pressure on oil majors. Iran denies direct talks with US, threatens US forces, creating risk of renewed escalation and oil price reversal. OPEC+ agrees to increase output by 188k bpd in September, but impact limited by Hormuz closure.
US-Iran de-escalation and oil price drop
Trump cancels strikes on Iran, claims Hormuz reopening, oil drops ~5%, fueling record Dow close and tech rally.
Chevron and Exxon report record profits, Trump criticizes them, adding political pressure on oil majors.
Iran denies direct talks with US, threatens US forces, creating risk of renewed escalation and oil price reversal.
OPEC+ agrees to increase output by 188k bpd in September, but impact limited by Hormuz closure.