Oil hits $108 as Gulf states postpone talks with Iran over Hormuz
Deferred meeting on vital waterway comes on top of Saudi pipeline closure following drone attack last week
Source: Financial Times
―
DW NOTE
The Strait has been effectively shut since February. Talks being postponed isn't news — the blockade continuing is the news. At $108 Brent and 5.7 million barrels per day in lost supply, the market is pricing a closure that shows no sign of ending, not the theatre of diplomacy around it.