WS #14240
The US-Iran ceasefire MOU expires today with no extension, Hormuz shipping near standstill (Kpler: 5 vessels Saturday, 0 Sunday vs 31 prior weekend), and oil prices firming (Brent ~$88.5-89.4, WTI ~$81.7-82.4) as geopolitical risk premium returns. Bloomberg reports Gulf states (UAE, Qatar, Kuwait) are secretly shipping oil through Hormuz with transponders off, likely exceeding 4 million bpd, and Iran-Oman talks on safe shipping routes are progressing, capping oil price upside.
US-Iran/Hormuz crisis escalation
The US-Iran ceasefire MOU expires today with no extension, Hormuz shipping near standstill (Kpler: 5 vessels Saturday, 0 Sunday vs 31 prior weekend), and oil prices firming (Brent ~$88.5-89.4, WTI ~$81.7-82.4) as geopolitical risk premium returns.
Bloomberg reports Gulf states (UAE, Qatar, Kuwait) are secretly shipping oil through Hormuz with transponders off, likely exceeding 4 million bpd, and Iran-Oman talks on safe shipping routes are progressing, capping oil price upside.