WS #14198
The 60-day US-Iran negotiation deadline expires without progress, Iran formalizes Hormuz control, and vessel attacks continue, keeping oil supply risk elevated. Brent crude dropped 4.1% to $96.63 on Friday, but the US SPR fell below 300 million barrels, raising concerns about cavern integrity and future supply response capacity.
US-Iran Conflict and Hormuz Blockade
The 60-day US-Iran negotiation deadline expires without progress, Iran formalizes Hormuz control, and vessel attacks continue, keeping oil supply risk elevated.
Brent crude dropped 4.1% to $96.63 on Friday, but the US SPR fell below 300 million barrels, raising concerns about cavern integrity and future supply response capacity.