Fox News reporter citing US Central Command says Strait of Hormuz is not closed despite the IRGC pronouncement
Newsquawk Staff ·
Fox News reporter citing US Central Command says Strait of Hormuz is not closed despite the IRGC pronouncement.
What it means
The clarification that the Strait of Hormuz remains open despite IRGC claims is crucial, as this area is a significant conduit for global oil supply. While tensions may persist, this news could help alleviate immediate fears around disruptions, likely supporting oil prices in the near term. Traders should monitor the ongoing geopolitical landscape for any further developments.
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- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
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