WS #12277
US-Iran strikes continue for sixth night; Ukraine strikes Russian tankers and refinery; Strait of Hormuz traffic at 17% of normal; WTI crude up 3.2%, Brent up 2.88%; oil prices elevated on supply fears. Chevron is signing preliminary deals to invest in Iraqi oil fields and bypass the Strait of Hormuz via a pipeline to the Mediterranean, potentially dampening the oil supply crisis.
Geopolitical escalation: US-Iran strikes, Ukraine strikes, oil spike
US-Iran strikes continue for sixth night; Ukraine strikes Russian tankers and refinery; Strait of Hormuz traffic at 17% of normal; WTI crude up 3.2%, Brent up 2.88%; oil prices elevated on supply fears.
Chevron is signing preliminary deals to invest in Iraqi oil fields and bypass the Strait of Hormuz via a pipeline to the Mediterranean, potentially dampening the oil supply crisis.