Oil nudges above $80 as Hormuz risk lingers and Lebanon clash roils markets
TL;DR
Oil prices rose above $80 as uncertainty over a US-Iran deal sustains risk around the Strait of Hormuz, with security concerns and Lebanon clashes weighing on sentiment. While a few tankers transited Hormuz, overall traffic remains well below peacetime levels and hundreds of vessels wait to exit, prompting calls from INTERTANKO for clearer safety steps to ensure safe passage.
Topics:businessenergy-and-markets#energy-and-markets#lebanon-conflict#oil-prices#strait-of-hormuz#tanker-shipping#us-iran
- Oil prices rise as Lebanon fighting erupts and Hormuz traffic still slow Al Jazeera
- Brent heading for over 8% weekly loss as traders weigh US-Iran truce outlook Reuters
- Oil Prices Fall as U.S.-Iran Deal to Reopen Hormuz Takes Effect The New York Times
- Oil Prices Fall to Lowest Since War Began After Trump Signs Iran Deal WSJ
- Oil Set for Deep Weekly Loss as Hormuz Traffic Starts to Pick Up Bloomberg.com
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