Iran Halts All Petrochem Exports While Official Signals Compromise Strait Passage Opening, As Negotiators Cite 'Progress'

Oil Plunges As Iran 'Completely Opens' Hormuz, US Reportedly 'Mulls' $20BN Cash-For-Nukes Deal, Summary Iran's Aragchi says "Strait of Hormuz is declared completely open" US mulls cash-for-uranium deal as 'three-page' MOU peace plan takes shape Peace talks reportedly on Sunday in Islamabad Iran Opens Hormuz In a rather shocking turn of events, Iran's Foreign Minister Seyed Abbas Aragchi posted on X that the Strait of Hormuz is open: "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire,...

Iran Already Scrambling For Oil Storage After Two Weeks Of US Blockade Trump's blockade is having a predictable effect on Iran's economy and oil industry, with reports that the regime is scrambling to repurpose old and rusty tankers as floating storage.  Kharg Island is hitting capacity and the results could lead to disaster for Iran's oil wells.  The regime is reportedly moving to expand crude storage at the island, where around 90% of their energy exports are processed, by reactivating a 30-year-old crude carrier called M/T Nasha.  It's a bad sign...

French Budget Rejections Fuel Debt Crisis Fears As Yield Spread Over Germany Hits 15-Year High French government bonds sold off earlier today, pushing 10-year yields above 5% as budget concerns and social unrest sent the country's borrowing premium over Germany to its highest since 2011. The French 10-year yield climbed to 5.11%, its highest since 2002, while the spread over equivalent German debt widened to 174 basis points, according to Bloomberg data. Separately, across the Atlantic, the 10-year US Treasury yield declined to 5.07% as EU equities weakened and US stock futures...