WS #10586
Diplomatic progress on reopening the Strait of Hormuz, with Iran-GCC-Iraq talks underway, no tolls expected, and IMO securing safety guarantees for stranded vessels. Ukrainian drone attacks knock out power in Sevastopol, Crimea, and damage a Moscow oil refinery, taking it offline for six months. Brent crude falls to $75.79/bbl, lowest since before the Iran war began, as supply disruption fears ease.
Strait of Hormuz De-escalation
Diplomatic progress on reopening the Strait of Hormuz, with Iran-GCC-Iraq talks underway, no tolls expected, and IMO securing safety guarantees for stranded vessels.
Ukrainian drone attacks knock out power in Sevastopol, Crimea, and damage a Moscow oil refinery, taking it offline for six months.
Brent crude falls to $75.79/bbl, lowest since before the Iran war began, as supply disruption fears ease.