Oil Prices Rise for Fourth Day as Hormuz Traffic Slows
Crude oil prices extended their gains for the fourth day today as fresh tanker-tracking data suggests traffic via the Strait of Hormuz has slowed further amid harder rhetoric from both Iran and the United States, with both sides demonstrating an unwillingness to return to the negotiating table.
At the time of writing, Brent crude was trading at $91.53 per barrel, and West Texas Intermediate was changing hands for $85.47 per barrel, two days after the expiration of the June ceasefire deal the U.S. and Iran had agreed, which broke down in early July.…
Trump declares 'Economic D-Day' on Iran
- Will declare Strait of Hormuz 'US territory' after defeating Iran: Trump Business Standard —
- Iran hits back at Trump’s Strait of Hormuz claim, says ‘It will remain Iranian’ Malay Mail —
- Oil slick threatens Iran’s coast as Hormuz shipping crisis deepens Malay Mail —
- Trump threatens to bomb Oman if it gets in way of Iran deal Al-Monitor —
- U.S. conducting stealth operation to transport oil through Hormuz Axios —