WS #11959
Trump says US will take over Strait of Hormuz and be reimbursed; Iran warns against cooperation with US and threatens to confront any unauthorized transit; Saudi airstrikes hit Sanaa Airport; UK designates IRGC as terrorist organization. UAE oil production surged 80% in June to 3.8M bpd, and OPEC lowered 2026 global oil demand growth forecast, partially offsetting bullish oil thesis from Hormuz closure.
US-Iran Conflict Escalation
Trump says US will take over Strait of Hormuz and be reimbursed; Iran warns against cooperation with US and threatens to confront any unauthorized transit; Saudi airstrikes hit Sanaa Airport; UK designates IRGC as terrorist organization.
UAE oil production surged 80% in June to 3.8M bpd, and OPEC lowered 2026 global oil demand growth forecast, partially offsetting bullish oil thesis from Hormuz closure.