Futures Jump, Oil Tumbles As Well-Timed Comments Spark Latest Round Of Hormuz Optimism
Futures Jump, Oil Tumbles As Well-Timed Comments Spark Latest Round Of Hormuz Optimism US equity futures were trading near session lows with bond yields at August highs of 4.74% and Brent rising above $90 for the first time in two weeks when - with just hours until t…
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Iran’s Islamic Revolutionary Guard Corps Navy reported late Saturday that two oil tankers were burning after striking naval mines in and near the Strait of Hormuz. The IRGC stated that the vessels had switched off their navigation and positioning systems and attempted to use an unauthorized route.
The group accused both ships of multiple violations, specifying that one was hit east of the strait and the other inside it.
Latvian farmers are protesting Russian grain transit, arguing that it helps fund Moscow’s war in Ukraine.
Zero Russian diesel has reached the US as tankers divert and buyers fear legal action.
Slovakia's prime minister stated that the country may sue the EU if it bans Russian oil supplies. He also criticized the European Commission for inaction regarding efforts to reduce electricity prices within the union.