WS #14233
Shipping through Hormuz slowed to a trickle (5 vessels Saturday, 0 Sunday) as IRGC plans escalatory strikes, keeping oil elevated and energy bullish while airlines/shipping bearish. Iran and Oman agreed on a Hormuz shipping route map, a potential counter to the supply crisis, but US is not party and Iran retains control. Trump instructed Pentagon to substantially reduce US-South Korea joint drills, citing Iran war costs, bearish for defense contractors.
Hormuz shipping near-standstill and Iran escalation plans
Shipping through Hormuz slowed to a trickle (5 vessels Saturday, 0 Sunday) as IRGC plans escalatory strikes, keeping oil elevated and energy bullish while airlines/shipping bearish.
Iran and Oman agreed on a Hormuz shipping route map, a potential counter to the supply crisis, but US is not party and Iran retains control.
Trump instructed Pentagon to substantially reduce US-South Korea joint drills, citing Iran war costs, bearish for defense contractors.