WS #13606
Strait of Hormuz tanker traffic fell to zero on Aug 6, US stopped Saudi oil imports for first time since 1985, and Iran-Oman framework to reopen strait is emerging, keeping oil prices volatile. SpaceX upgraded to Buy by Argus, rallying 17% in five days, while defense stocks like Lockheed and Northrop gain on Patriot missile demand and Rheinmetall ATACMS production ramp.
Strait of Hormuz Tensions and Oil Market Impact
Strait of Hormuz tanker traffic fell to zero on Aug 6, US stopped Saudi oil imports for first time since 1985, and Iran-Oman framework to reopen strait is emerging, keeping oil prices volatile.
SpaceX upgraded to Buy by Argus, rallying 17% in five days, while defense stocks like Lockheed and Northrop gain on Patriot missile demand and Rheinmetall ATACMS production ramp.