WS #13846
Trump's demand for Iranian reparations and claim of US control over Hormuz have dimmed deal hopes, sending Brent to ~$88 and WTI above $82, up ~5% on Monday, with shipping traffic through the strait falling to six vessels. A drone attack on Libya's Zawiya refinery caused a major fire, with NOC warning of force majeure and potential shutdown, adding to global oil supply concerns.
US-Iran conflict and oil price surge
Trump's demand for Iranian reparations and claim of US control over Hormuz have dimmed deal hopes, sending Brent to ~$88 and WTI above $82, up ~5% on Monday, with shipping traffic through the strait falling to six vessels.
A drone attack on Libya's Zawiya refinery caused a major fire, with NOC warning of force majeure and potential shutdown, adding to global oil supply concerns.