WS #14041
Oil fell 2.1-2.4% as IEA cut demand forecasts and US inventories surged, despite a fresh attack on two ADNOC vessels in Hormuz, indicating market desensitization. Trump imposed tariffs on drone imports (100% on sensitive, 15% on EU/Japan/Korea/Taiwan, 10% on UK), effective in 21 days, to reduce reliance on foreign sources.
Oil price decline despite Hormuz attack
Oil fell 2.1-2.4% as IEA cut demand forecasts and US inventories surged, despite a fresh attack on two ADNOC vessels in Hormuz, indicating market desensitization.
Trump imposed tariffs on drone imports (100% on sensitive, 15% on EU/Japan/Korea/Taiwan, 10% on UK), effective in 21 days, to reduce reliance on foreign sources.