Sinopec (0338 HK) VP says there is not much Russian oil available under the waiver and are evaluating risks of buying Iranian oil
The comments from Sinopec's VP indicate potential supply constraints in the energy market, particularly regarding Russian oil under current waivers.
Iran's Defense Council threatens to deploy naval mines across the 'entire Persian Gulf' if a land invasion happens, AP reports
European Movers: Telecom Italia (TIT IM) +5.3%, Delivery Hero (DHER GY) +1.0%, Danone (BN FP) -0.9%, Volkswagen (VOW3 GY) -1.4%, Rhienmetall (RHM GY) -2.3%, Poste Italiane (PST IM) -3.5%
Sinopec (0338 HK) VP says there is not much Russian oil available under the waiver and are evaluating risks of buying Iranian oil
Iran's Defence Council says only way for safe passage through the Strait of Hormuz is for non-belligerent states to coordinate with Iran; reiterates that Iran will respond back with equal action on attacks to power plants
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This assessment may lead to increased scrutiny over Iranian oil acquisitions, impacting global energy prices and creating ripples in forex markets, particularly within commodity-linked currencies and safe havens. The broader implications could further influence market sentiment towards energy stocks and commodities as geopolitical risks evolve.
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