(BOE Report) – U.S. President Donald Trump on Tuesday said there were no conversations taking place with Iran, and none were scheduled, adding that the Strait of Hormuz was open. “There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran. The Naval Blockade remains in full force and effect. The Hormuz Strait is open
(BOE Report) – At least four Asian refiners bought U.S. crude this week, as the Strait of Hormuz remained effectively closed and refiners sought alternative supplies for delivery later this year, traders said. Shipping traffic at the Strait of Hormuz fell below the average for this month towards the end of the week due to competing U.S. and Iran claims
(BOE Report) – Iran’s state TV said Tehran had obtained a draft of an initial, unofficial framework for a memorandum of understanding with the United States on ending their conflict. Under the framework, Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within a month, while the United States would withdraw military forces from Iran’s vicinity
(Oil Price) – Crude oil prices extended losses for a second day today, after President Trump said the United States would pause its plan to escort vessels out of the Strait of Hormuz just a couple of days after it was announced. The news prompted expectations that a peace deal may be in the making, pressuring Brent crude below $107 and West Texas
