Peace Talks Won’t Save Oil Buyers From $100-Plus Oil
Middle East nations have renewed their diplomatic efforts, with high-level delegations from Saudi Arabia, Turkey and Pakistan having met with Iranian officials in Tehran on Monday to explore a regional security framework in a bid to de-escalate tensions. Whereas Iranian President Pezeshkian has expr
Source: OilPrice.com
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DW NOTE
Brent is at $115 and WTI over $100 with the Strait of Hormuz effectively closed — only 2 ships passed on October 25 versus the usual 85 per day. Iran dangled conditional reopening terms today, but a dozen vessels have been struck in recent days, 11 of them tankers. Peace talks don't matter when 20% of global seaborne oil can't get through.