US VP Vance was reportedly sceptical of the US striking Iran in the lead-up to the decision to launch the war, Politico reports citing sources
The report of US VP Vance being skeptical about a military strike on Iran could indicate a potential for de-escalation in tensions, which may positively impact oil prices, especially WTI.
Sinopec (600028 CH) reportedly plans to reduce March crude refinery runs by over 10%, sources say; Co. is reportedly prioritising fuel over petrochemicals
India is considering support measures for exporters, Bloomberg reports citing sources; measures would be similar to those during the COVID period.
US VP Vance was reportedly sceptical of the US striking Iran in the lead-up to the decision to launch the war, Politico reports citing sources
India asks Iran to allow tankers through the Strait of Hormuz, according to the WSJ; India is in active talks to allow 23 tankers through the Strait, with first crossing expected this weekend
Israeli PM Netanyahu has reportedly ordered his army to commence the preparation of more civilian targets in Lebanon for approval, ISNA reports citing sources
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This skepticism suggests a reconsideration of aggressive policies that could impact the energy markets, fostering a more stable outlook in the region. Traders should monitor sentiment shifts and how this may affect oil supply narratives going forward.
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