French President Macron says will take few weeks to coordinate Hormuz ship escorts

• French President Macron says the government may decide further measures to cushion oil price increase for French consumers.
• Release of strategic reserves represents about 14.5mln bbls in France

President Macron's comments on coordinating ship escorts in the Hormuz Strait indicate rising concerns over oil supply security, which could lead to heightened geopolitical tensions. His mention of measures to mitigate oil price increases for French consumers suggests that oil prices may be sensitive to these developments. This could influence market sentiment and drive safe-haven assets as investors reassess risks associated with potential supply disruptions.