WS #14752
Iran has proposed reopening the Strait of Hormuz as part of a truce deal with the US, causing Brent crude to drop below $106 and WTI to fall toward $89. This de-escalation has lifted European equities, marking their first weekly gain in four weeks. However, the situation remains volatile as France deploys military assets to defend the Saudi port of Yanbu against Houthi threats, and tanker traffic through Hormuz remains critically low at single digits.
Middle East Ceasefire & Energy
Iran has proposed reopening the Strait of Hormuz as part of a truce deal with the US, causing Brent crude to drop below $106 and WTI to fall toward $89. This de-escalation has lifted European equities, marking their first weekly gain in four weeks. However, the situation remains volatile as France deploys military assets to defend the Saudi port of Yanbu against Houthi threats, and tanker traffic through Hormuz remains critically low at single digits.