WS #13980
Iran's Strait Authority says Hormuz remains blocked until its conditions are met, contradicting Trump's 'total control' claim; shipping traffic is ~90% below pre-war levels, keeping supply risk elevated despite demand-side oil price pressure. US crude inventories surged 17.4M barrels (largest since Jan 2023), OPEC/IEA cut demand forecasts, and IEA sees a 1.8M bpd shortfall, causing Brent to ease to ~$88.5 and WTI to ~$82.7, countering the supply-crisis narrative.
Hormuz standoff: Iran rejects US control, traffic near 3-month low
Iran's Strait Authority says Hormuz remains blocked until its conditions are met, contradicting Trump's 'total control' claim; shipping traffic is ~90% below pre-war levels, keeping supply risk elevated despite demand-side oil price pressure.
US crude inventories surged 17.4M barrels (largest since Jan 2023), OPEC/IEA cut demand forecasts, and IEA sees a 1.8M bpd shortfall, causing Brent to ease to ~$88.5 and WTI to ~$82.7, countering the supply-crisis narrative.