Oil Spikes As Trump Vows To Hit Iran "Extremely Hard Over Next 2-3 Weeks", Threatens To Send It "Back To The Stone Ages"

Crude Spikes On Israeli Report: Iran Parliament Speaker Ghalibaf Resigns From Negotiating Team After IRGC Intervention Summary Israeli media says Iran Parliament Speaker resigns from negotiating team under IRGC pressure, oil spikes. Trump orders US Navy 'shoot & kill' small Iranian boats amid concern over mines in Hormuz. Says US now "doesn't need a deal". Overnight, US military intercepted two more Iranian oil supertankers that tried to evade the blockade And in Indian Ocean US conducted a maritime interdiction and right-of-visit boarding of the sanctioned stateless vessel M/T Majestic X transporting oil from Iran. Media sources confirm based...

Oil Tops $91, US Diesel Crack Near $100 As US-Iran Strikes Resume, Tehran Claims Supertanker Mined In Hormuz Brent crude futures climbed back above $90 a barrel, while West Texas Intermediate topped $86 after the US and Iran exchanged strikes for the first time in about a month. Tehran also claimed that an unidentified supertanker was struck by naval mines in the Strait of Hormuz. Meanwhile, diesel crack spreads are approaching $100 a barrel again, suggesting an increasingly severe shortage across refined-product markets as the summer draws to a close.  US Central...