WS #13987
Iran asserts control over Strait of Hormuz, contradicting Trump's claim, with ship traffic down ~90% and no progress in talks ahead of Aug 17 ceasefire deadline. OPEC and IEA cut 2026 demand forecasts, US crude inventories surge 17.4M barrels, pressuring oil prices despite geopolitical tensions.
Hormuz standoff escalation
Iran asserts control over Strait of Hormuz, contradicting Trump's claim, with ship traffic down ~90% and no progress in talks ahead of Aug 17 ceasefire deadline.
OPEC and IEA cut 2026 demand forecasts, US crude inventories surge 17.4M barrels, pressuring oil prices despite geopolitical tensions.