WS #13866
Iran has closed the door to negotiations with the US, waiting until 2029, and Trump demands compensation, pushing Brent to $89-90 and WTI to $84, with a counter-signal from Pakistan suggesting a possible agreement. Ukraine drone attacks on Russian refineries, Libya Zawiya refinery fire, and Russian wheat export slump due to Black Sea attacks add to supply concerns, supporting oil and wheat prices.
US-Iran/Hormuz standoff escalation
Iran has closed the door to negotiations with the US, waiting until 2029, and Trump demands compensation, pushing Brent to $89-90 and WTI to $84, with a counter-signal from Pakistan suggesting a possible agreement.
Ukraine drone attacks on Russian refineries, Libya Zawiya refinery fire, and Russian wheat export slump due to Black Sea attacks add to supply concerns, supporting oil and wheat prices.