U.S. and Houthis Open Talks as Saudi Oil Crisis Deepens
With assorted economic and military crises boiling all across the Middle East in the wake of his disastrous decision to launch a war on Iran, President Trump will meet with Persian Gulf leaders in New York next week, on the margins of the United Nations General Assembly. This diplomacy news came on
Source: OilPrice.com
―
DW NOTE
The Fed raised rates into a supply shock it cannot fix. The Strait of Hormuz has been effectively shut since February — no amount of monetary tightening will reopen it. Meanwhile WTI sits at $101 while the curve steepens to +27bp, pricing recession before relief.