WS #12090
Multiple sources confirm US-Iran military escalation: Trump refuses to rule out ground campaign, threatens infrastructure strikes, naval clash in Strait of Hormuz, bulk carrier sinks, US reinstates blockade, Iran closes strait. Oil prices rise. Oil's oversupply narrative dies as Strait of Hormuz closure and US blockade push Brent above $85. Trump withdraws 20% transit fee plan after Gulf state opposition, but blockade remains.
US-Iran Conflict Escalation
Multiple sources confirm US-Iran military escalation: Trump refuses to rule out ground campaign, threatens infrastructure strikes, naval clash in Strait of Hormuz, bulk carrier sinks, US reinstates blockade, Iran closes strait. Oil prices rise.
Oil's oversupply narrative dies as Strait of Hormuz closure and US blockade push Brent above $85. Trump withdraws 20% transit fee plan after Gulf state opposition, but blockade remains.