Oil nudges above $80 as Hormuz risk lingers and Lebanon clash roils markets
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.