Oil prices climb, bond yields rise as US-Iran ceasefire expires - WTVB
Oil prices climb, bond yields rise as US-Iran ceasefire expires - WTVB
Source: WTVB
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DW NOTE
The US-Iran ceasefire expired weeks ago. The Strait of Hormuz has been closed to commercial traffic since February 28, reopened briefly in June, then shut again. Oil is trading at $84, down 25.5% from its one-year high, not climbing toward some imagined supply premium. When a chokepoint carrying 20% of global oil stays shut for five months and the market shrugs, that tells you demand destruction is real and strategic reserves still matter more than headlines.