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Oil Slides On Reports Of 'Breakthrough' Coming For Stuck Ships In Hormuz, As US Awaits Tehran's Response To Fresh Proposal
Oil Slides On Reports Of 'Breakthrough' Coming For Stuck Ships In Hormuz, As US Awaits Tehran's Response To Fresh Proposal
Summary
Sentiment in early morning trade was lifted after Al Arabiya reported that "the coming hours will witness a breakthrough for the situation of the ships stuck in the strait".
Pakistani sources said Trump has demanded Iran's "immediate response" to Washington's peace proposal.
White House on Wednesday had said it expects a response to the latest offer within 48 hours.
French nuclear-powered carrier steams through Suez Canal in support mission as Europe seeks diplomatic influence...
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Tehran's Toll Booth For Hormuz Strait Divides Countries Into 3 Categories
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The last several days have seen a limited number of foreign vessels successfully and safely cross the Strait of Hormuz for the first time, amid the ongoing de facto military blockage by Iran.
A group of several vessels, namely French, Japanese, and Oman-linked ships were reported to have crossed the strait at the end of this week. This included Malta-flagged 'Kribi,' owned by French shipping group CMA CGM, having exited the Gulf through an Iranian-approved corridor, broadcasting "owner France" - as we...
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