Oil Edges Lower Ahead of Weekend Hormuz Talks
TL;DR Summary
Oil prices slipped on expectations that the Strait of Hormuz could reopen following weekend U.S.–Iran talks, but a breakdown could trigger shortages and a fresh spike. The piece also notes Iran’s mixed signals on Hormuz, U.S. sanctions chatter over Iranian oil payments, record Chinese crude output, a fire at Australia’s Geelong refinery, and broader market moves tied to OPEC, the IEA, and Middle East supply forecasts.
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