US-Iran conflict: Oil prices ease as Trump signals possible path to talks
Seoul says will not deploy troops for military intervention in Iran war Iran says struck oil tanker in Strait of Hormuz Iran's Revolutionary Guards said Friday they struck an oil tanker sailing under the Togolese flag in the Strait of Hormuz, state news agency IRNA reported. "The Togo-flagged oil tanker 'Trend' had been targeted and detained after a fire broke out on board," the statement said,…
Oil prices eased as US President Donald Trump signaled a potential path to talks with Iran. The US and Iran have been in conflict over the Strait of Hormuz, where Iran struck and seized an oil tanker. US Energy Secretary Chris Wright indicated that a pipeline outage in Saudi Arabia would be temporary, easing concerns over Saudi pipeline repairs.
The decline in crude prices helped stabilize US Treasury bond yields, leading to a relief rally on Wall Street. Despite the market relief, analysts noted the market remains volatile due to the ongoing conflict. Saudi Arabia is reportedly assembling a shunt on a critical oil pipeline damaged in the attack. The US has sanctioned Iranian cryptocurrency exchange BitBank over its involvement in payments to Iran’s Islamic Revolutionary Guard Corps.
Russia and China vetoed a UN resolution to monitor sanctions on Iran, leaving the sanctions in effect.
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