US offers to lift Iran sanctions in return for reopening Hormuz: Report - The Business Standard
US offers to lift Iran sanctions in return for reopening Hormuz: Report - The Business Standard
Source: The Business Standard
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DW NOTE
The US is negotiating to trade sanctions relief for access to 17 million barrels per day of seaborne crude — roughly 17% of global supply. The Strait has been functionally closed since late August, yet WTI is down 26% from its recent peak. Either the market believes the deal gets done, or it has already priced in demand destruction severe enough to offset a 4.3 million barrel-per-day supply shock.