Brent Falls 1.8% to Lowest Since Feb. 27 as Hormuz Flows Recover
Oil extended losses Wednesday, pushing August Brent crude down 1.8% to $75.68 a barrel, its lowest since Feb. 27, before the U.S.- and Israeli-led war against Iran began, as worries about supply disruptions through the Strait of Hormuz eased. The strait typically handles about a fifth of the world's oil traffic.
UBS, in a note cited by Deita, cut its third-quarter supply-loss estimate to 7 million barrels a day from 12 million and said nearly 80% of the oil supply disrupted by the Middle East conflict should return within three months, rising to about 90% by year-end, though logistical and operational bottlenecks could slow a full normalization. Elsewhere, the cost of US diesel dipped below $5 a gallon for the first time since mid-March, and Treasury yields edged lower as oil moved back toward pre-war levels.
From the sources (25 posts)
@staunovoIran’s Fars news agency cites a military source as saying that the Strait of Hormuz remains closed and the Revolutionary Guards Navy has not issued permission for any vessels to transit until further notice.
@financialjuiceIran’s Tasnim news agency, citing source close to negotiating team: Strait of Hormuz will remain closed unless ceasefire in Lebanon is upheld and Iranian oil sale waivers are granted
@iranintl_enIsraeli Defense Minister Israel Katz said on Sunday that Israeli troops would continue operating in Lebanon to remove threats without restrictions. "There was not and there is no limitation on IDF soldiers in Lebanon to act to remove threa
@clashreportBIG: Source close to the negotiating team says the Strait of Hormuz will remain closed unless Israel halts its attacks in Lebanon and Lebanon's territorial integrity is guaranteed. Iran also demands that the U.S. fulfill its commitments,
@reutersIran's Tasnim news agency says Hormuz will not reopen until Lebanon ceasefire holds, oil waivers issued
@lloydslistCommercial traffic continued to move through the Strait of Hormuz over the weekend despite repeated Iranian claims that it had closed the waterway in response to what it described as Israeli violations of a ceasefire
@firstsquawkZERO VESSELS PASS THROUGH HORMUZ AS IRAN-ANNOUNCED SHUTDOWN PARALYZES KEY OIL CHOKEPOINT
@marketnews_feedZERO VESSELS PASS THROUGH HORMUZ AS IRAN-ANNOUNCED SHUTDOWN PARALYZES KEY OIL CHOKEPOINT ...
@iranintl_enIran has conditioned the reopening of the Strait of Hormuz on curbing Israel’s actions in Lebanon, IRGC-affiliated Tasnim News reported on Sunday, citing a source close to Tehran’s negotiating team. “The Strait of Hormuz will not be opened
@dlacalle_iaMillions of barrels are flowing through the Strait of Hormuz with no limitation or payment. via Bloomberg
@anasalhajji💥IRGC closed Hormuz again? 🌀Meanwhile, here’s an oil tanker carrying 2 million barrels of Saudi crude that crossed the Strait — after the IRGC announced it was closed. 🌀Destination: Japan. 🌻Actions speak louder than announcements.
@anasalhajjiالسعودية 🇸🇦🇸🇦🇸🇦 🟥ناقلة نفط محملة بمليوني برميل من النفط السعودي الخفيف جدا تعبر مضيق هرمز في طريقها إلى اليابان بعد إعلان الحرس الثوري الإيراني أمس إغلاق المضيق! 🟥البيانات والتصريحات شيء، والواقع شيء آخر!
@ajenglishDefence Minister Israel Katz says there are no restrictions preventing Israeli soldiers from acting against "threats" in southern Lebanon, with troops remaining in the so-called "security zone". 🔴LIVE updates: https
@zerohedge*ISRAEL REITERATES IT WON’T WITHDRAW FROM SOUTHERN LEBANON: KATZ
@oilheadlinenewsISRAEL REITERATES IT WON’T WITHDRAW FROM SOUTHERN LEBANON
@zerohedgeIRAN WARNS ISRAEL PRESENCE IN LEBANON WOULD VOID US DEAL: ISNA
@reutersIsraeli soldiers in Lebanon are free to take action if under threat, Israel's Katz says
@oilheadlinenewsIRAN WARNS ISRAEL PRESENCE IN LEBANON WOULD VOID US DEAL: ISNA
@faytuksnetworkIsraeli Defense Minister Israel Katz reiterates that Israel will not withdraw from southern Lebanon
@kobeissiletterBREAKING: Iran warns that continued Israeli presence in southern Lebanon would void the US-Iran peace deal, per ISNA. Moments ago, Israel's Minister of Defense said Israel would not withdraw from southern Lebanon.
@oilheadlinenewsThree fully laden India-linked supertankers have re-emerged in the Gulf of Oman, adding to increased observed bi-directional traffic across the northern and southern routes of the Strait of Hormuz even as conflicting narratives over the sta
@staunovoIran’s Tasnim news agency, citing a source close to the negotiating team, reports that the Strait of Hormuz will not be reopened as long as a ceasefire in Lebanon between Israel and Hezbollah is not respected. The source says the waterway
@oilheadlinenewsIran has conditioned the reopening of the Strait of Hormuz on curbing Israel’s actions in Lebanon, IRGC-affiliated Tasnim News reported on Sunday, citing a source close to Tehran’s negotiating team.
@osint613Israel Military Journalist Doron Kadosh: Defense Minister Katz issued a statement saying here are "no restrictions whatsoever" on IDF troops in Lebanon to remove threats. The reality on the ground is different, soldiers must wait for thre
@treyyingstPresident Trump spoke with the Iranians overnight warning them not to close the Strait. "You close it and you won't have a country," Trump said he told Iranian officials. "You won't even make it back to your fu*king country."