WS #14241
The 60-day US-Iran ceasefire MOU expired today with no extension; Iran prepared for full-scale war during the truce (WSJ), Hormuz shipping nearly halted (only 5 vessels Saturday, 0 Sunday), and oil prices remain firm near $88-89 Brent. EU foreign policy chief Kaja Kallas announced the most far-reaching sanctions package since the war began, to be presented in autumn, potentially increasing sanctioned Russian entities by a third. Shipping through Hormuz nearly halted (5 vessels Saturday, 0 Sunday) while US Energy Secretary claims strait is open and oil flowing faster than market appreciates, creating a counter-signal to oil price spike.
US-Iran ceasefire expiry and Hormuz escalation
The 60-day US-Iran ceasefire MOU expired today with no extension; Iran prepared for full-scale war during the truce (WSJ), Hormuz shipping nearly halted (only 5 vessels Saturday, 0 Sunday), and oil prices remain firm near $88-89 Brent.
EU foreign policy chief Kaja Kallas announced the most far-reaching sanctions package since the war began, to be presented in autumn, potentially increasing sanctioned Russian entities by a third.
Shipping through Hormuz nearly halted (5 vessels Saturday, 0 Sunday) while US Energy Secretary claims strait is open and oil flowing faster than market appreciates, creating a counter-signal to oil price spike.