WS #12102
US reinstates naval blockade on Iran, launches fresh strikes; Iran retaliates with drone/missile attacks on US bases in Bahrain and Kuwait, Hormuz remains closed; Trump threatens power plants and bridges, does not rule out ground troops. Brent crude rises to $86, WTI above $80, up ~12% since Friday, as Hormuz blockade and US-Iran strikes disrupt supply; OPEC+ likely to raise quotas by 188k bpd in August. US senators unveil revised Russia sanctions bill with tariffs reduced from 500% to 100% on top oil/gas buyers like China and India; exemptions for countries reducing Russian gas dependence.
US-Iran Conflict Escalation
US reinstates naval blockade on Iran, launches fresh strikes; Iran retaliates with drone/missile attacks on US bases in Bahrain and Kuwait, Hormuz remains closed; Trump threatens power plants and bridges, does not rule out ground troops.
Brent crude rises to $86, WTI above $80, up ~12% since Friday, as Hormuz blockade and US-Iran strikes disrupt supply; OPEC+ likely to raise quotas by 188k bpd in August.
US senators unveil revised Russia sanctions bill with tariffs reduced from 500% to 100% on top oil/gas buyers like China and India; exemptions for countries reducing Russian gas dependence.