US Energy Secretary Wright says that the Strait of Hormuz can open without clearing all mines
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US President Trump says "Iran has just informed us that they are in a "State of Collapse" They want us to "Open the Hormuz Strait", as soon as possible as they try to figure out the leadership situation"
The UAE's exit from OPEC is a sovereign decision, not a break with the market or a reaction, Argus reports citing sources; no plan to flood the market once Hormuz is functional, any output increase would be gradual and timely. Near term, nothing changes.
US Energy Secretary Wright says that the Strait of Hormuz can open without clearing all mines
Govt sources suggesting only a handful of rebels will vote with the Conservatives this evening to refer UK PM Starmer to the Privileges Committee. Around 20 could abstain, they added, via iPaper reporter Donaldson
General Motors (GM) CFO says they are not worried about any shortages on raw materials
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Context
The comments from US Energy Secretary Wright about the Strait of Hormuz potentially opening without a complete mine clearance suggest a possible easing of tensions in the region. This may contribute to more stability in oil supply routes, impacting energy prices and risk sentiment. Traders should monitor this development as it could signal a shift in geopolitical risk dynamics affecting commodities.
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