OIL SURGES 5% AS HORMUZ DEAL HOPES FADE

Oil jumped 5% Monday as escalating U.S.-Iran compensation demands reduced expectations for a near-term reopening of the Strait of Hormuz.

Brent settled at $87.72, while WTI reached $82.13, reversing part of last week’s 7%+ decline.

Iran says Washington must meet several conditions before Hormuz fully reopens, reinforcing concerns that constrained oil flows could persist longer than markets anticipated.

OIL SURGES 5% AS HORMUZ DEAL HOPES FADE

Oil jumped 5% Monday as escalating U.S.-Iran compensation demands reduced expectations for a near-term reopening of the Strait of Hormuz.

Brent settled at $87.72, while WTI reached $82.13, reversing part of last week’s 7%+ decline.

Iran says Washington must meet several conditions before Hormuz fully reopens, reinforcing concerns that constrained oil flows could persist longer than markets anticipated.

Source:https://twitter.com/deitaone/status/2086893254167925068