WS #14023
Iran and US dispute control of Strait of Hormuz, with Iran asserting full control and US claiming a naval blockade; Hormuz traffic at two-month lows, raising risk of $120-140 oil by Q4. Ukraine proposes mutual halt to Black Sea attacks on civilian targets, and has paused drone strikes on Russian oil tankers at US request, potentially easing oil supply disruptions.
Hormuz Stalemate and Oil Supply Risk
Iran and US dispute control of Strait of Hormuz, with Iran asserting full control and US claiming a naval blockade; Hormuz traffic at two-month lows, raising risk of $120-140 oil by Q4.
Ukraine proposes mutual halt to Black Sea attacks on civilian targets, and has paused drone strikes on Russian oil tankers at US request, potentially easing oil supply disruptions.