WS #13807
Iran keeps Strait of Hormuz closed demanding US concessions; Trump demands compensation from Iran, escalating tensions; Brent and WTI surge ~4% to $86.89 and $81.31 respectively, boosting energy stocks. US SPR inventories fell below 300 million barrels for the first time since 1983, down 6.1 million barrels last week, signaling reduced emergency supply buffer and supporting oil prices.
Hormuz Closure and Oil Price Surge
Iran keeps Strait of Hormuz closed demanding US concessions; Trump demands compensation from Iran, escalating tensions; Brent and WTI surge ~4% to $86.89 and $81.31 respectively, boosting energy stocks.
US SPR inventories fell below 300 million barrels for the first time since 1983, down 6.1 million barrels last week, signaling reduced emergency supply buffer and supporting oil prices.