Sterling slips as Iran strikes push up oil prices and boost dollar - KITCO

Source: KITCO

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DW NOTE

The Hormuz chokepoint reopened five weeks ago and traffic has normalised at 35-40 ships daily. Oil is up 12% week-on-week but still 30% below its yearly high, with global supply down 3.7 million barrels per day and demand off 5 million b/d in Q2 alone. If strikes were genuinely disrupting flow, oil would be at the highs, not climbing back from a deep trough in a supply glut.

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