WS #14342
Brent oil rises 2.2% and Polymarket shows heavy trading on WTI hitting $85, $90, and $100, reflecting a higher risk premium from the Hormuz escalation. US strikes Iranian rocket launchers on Larak Island, first US military action in weeks, prompting Iranian retaliation threats and missile launches, escalating the Hormuz conflict. US secures access to 65 billion barrels of Venezuelan oil reserves, a potential medium-term counter to the oil price spike from the Hormuz conflict.
Oil Price Surge
Brent oil rises 2.2% and Polymarket shows heavy trading on WTI hitting $85, $90, and $100, reflecting a higher risk premium from the Hormuz escalation.
US strikes Iranian rocket launchers on Larak Island, first US military action in weeks, prompting Iranian retaliation threats and missile launches, escalating the Hormuz conflict.
US secures access to 65 billion barrels of Venezuelan oil reserves, a potential medium-term counter to the oil price spike from the Hormuz conflict.