Oil Prices Fall as Traders Weigh Russia Sanctions Waiver, Middle East Risks - WSJ
Oil Prices Fall as Traders Weigh Russia Sanctions Waiver, Middle East Risks - WSJ
Source: WSJ
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DW NOTE
The Strait of Hormuz has been effectively closed for a week, with only 2 tankers transiting versus the usual 85 per day, and at least a dozen vessels struck in recent days. Oil falling on "Middle East risks" when the world's most critical choke point is already shut is not traders weighing risk — it's traders pricing in a sanctions waiver large enough to matter more than a supply shock already underway.