Brent crude settled above $78 a barrel on Wednesday, up more than 5%, after the US launched a second day of strikes on Iran, the US Treasury revoked Tehran’s oil sanctions waiver, and Iran threatened to close the Strait of Hormuz.
Tag: Strait of Hormuz
Posted inGeopolitics
Trump declares the Iran ceasefire over as US launches a second day of strikes
President Trump declared the three-week memorandum of understanding with Iran ‘over’ on July 8 after US forces struck more than 80 Iranian targets and Tehran fired missiles at US military bases in Kuwait and Bahrain.
Posted inGeopolitics
US envoy Witkoff heads to Qatar as Iran denies new ceasefire talks are confirmed
Steve Witkoff flew to Doha for Iran talks on June 29 after weekend US-Iran strikes, but Tehran’s deputy FM publicly denied any meeting had been arranged, deepening diplomatic uncertainty.
Posted inWorld
Iran fires missiles at US bases in Kuwait and Bahrain as Hormuz ceasefire unravels
Iran’s IRGC launched ballistic missiles and drones at US military facilities in Kuwait and Bahrain on June 28, threatening to collapse a ceasefire signed only 11 days earlier.
Posted inGeopolitics
Trump declares Iran deal complete as Hormuz shipping prepares to resume
President Trump announced on June 14 that the US-Iran ceasefire deal is now complete, with the Strait of Hormuz set to reopen and a formal signing ceremony scheduled for June 19 in Switzerland.
Posted inMarkets
Brent crude falls to an eight-week low as Iran deal text reaches final agreement
Brent crude fell more than 4% on Friday to below $84 per barrel, an eight-week low, after Pakistan confirmed the United States and Iran had agreed a final deal text including Strait of Hormuz reopening.
Posted inGeopolitics
Trump cancels Iran strikes and signals a deal could be signed this weekend
President Trump on June 11 called off planned strikes on Iran and said a memorandum of understanding to end hostilities could be signed as early as this weekend, potentially reopening the Strait of Hormuz.
Posted inMarkets
Oil slides below $90 as Energy Secretary signals Hormuz traffic is rising
US crude settled at $88.20 a barrel on June 9 after Energy Secretary Chris Wright said Hormuz ship traffic is rising meaningfully, as Iran and Israel agreed to halt their latest exchange of strikes.
Posted inGeopolitics
Iran ceasefire on massive life support as Hormuz-first demand stalls the one-page deal
Six weeks after a Pakistan-brokered truce halted US-Iran hostilities, both sides remain deadlocked over sequencing in a 14-point memorandum that would reopen the Strait of Hormuz and defer nuclear talks.
Posted inMarkets
US 10-year yield hits one-year high as Iran deal hopes whipsaw oil markets
The US 10-year yield hit a one-year high on May 18 as Trump’s Iran strike delay briefly pushed Brent crude below $107 before the conflict premium reasserted.