WS #13578
Iran attacked 'hostile targets' in the Strait of Hormuz, two ships hit, and Iran weighs barring US/Israeli ships with fines up to 20% of cargo value, driving WTI +2.75% to $77.29 and Brent +3.83% to $82.49. Iran and Oman have agreed on geographic coordinates for a transit corridor, but Iran seeks 5-7% transit fees (US wants zero) and the deal awaits Khamenei approval, offering a potential counter to the oil spike.
Hormuz escalation and oil spike
Iran attacked 'hostile targets' in the Strait of Hormuz, two ships hit, and Iran weighs barring US/Israeli ships with fines up to 20% of cargo value, driving WTI +2.75% to $77.29 and Brent +3.83% to $82.49.
Iran and Oman have agreed on geographic coordinates for a transit corridor, but Iran seeks 5-7% transit fees (US wants zero) and the deal awaits Khamenei approval, offering a potential counter to the oil spike.