Oil prices stabilise after renewed US-Iran strikes rock peace hopes
ONP Summary
Market crude benchmarks climbed 3-6% Wednesday as tensions between Washington and Tehran reignited, with Trump declaring the ceasefire concluded and tanker attacks in the Strait of Hormuz stoking fears of regional supply disruption. Both sides exchanged military strikes, prompting investors to reassess Middle East energy security.
Progressive: Unilateral escalation — they see Trump's voluntary decision to end the deal as the precipitating factor in renewed hostilities.
Moderate: Mutual escalation — they view tanker attacks and military responses as tit-for-tat actions by both sides, neither clearly innocent.
Conservative: Justified response — they interpret Iranian tanker attacks as unprovoked aggression warranting US strikes as legitimate self-defense.
Oil prices fell on Thursday after a surge the previous day triggered by US President Donald Trump's declaration that the ceasefire with Iran was "over" following the country's renewed attacks on ships in the Strait of Hormuz.
Trump later said that he expected the latest military flare-up to end quickly and left the door open to more talks. ...
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