WS #13380
A cargo ship was struck in the Strait of Hormuz, Iran-Oman deal would give Iran control over shipping, and Iran threatens US warships, keeping oil supply risk elevated and Brent near $85. BP and Saudi Aramco reported strong Q2 profits boosted by the Iran war, with BP doubling profit to $5.7B and Aramco up 44%, reinforcing energy sector earnings strength.
Strait of Hormuz escalation and oil supply risk
A cargo ship was struck in the Strait of Hormuz, Iran-Oman deal would give Iran control over shipping, and Iran threatens US warships, keeping oil supply risk elevated and Brent near $85.
BP and Saudi Aramco reported strong Q2 profits boosted by the Iran war, with BP doubling profit to $5.7B and Aramco up 44%, reinforcing energy sector earnings strength.