Oil Bulls Rebound as Hormuz Risks Overshadow Tepid Xi-Trump Talks
TL;DR
Oil prices rose about $7 for the week on renewed Hormuz tensions and Iran's vow to keep fighting, even as the Xi-Trump summit offered little guidance; OPEC cut its 2026 demand forecast, while EU ministers discuss a windfall tax on energy profits, Cuba faces an energy crunch, ADNOC plans a Hormuz bypass pipeline to boost exports by 2027, and a flurry of geopolitical and policy developments keep the market buoyant.
- Xi-Trump Summit Disappoints as Oil Bulls Regain Momentum Crude Oil Prices Today | OilPrice.com
- Oil Prices Climb on Fears of Broader Energy Crunch The New York Times
- Middle East live: Iran says all vessels can pass through Hormuz, except those at war with Tehran France 24
- What Will Happen To Gasoline Prices When the Iran War Ends? FactCheck.org
- Oil Heads for Weekly Advance With Iran War Resolution at Impasse Bloomberg.com
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