Brent Climbs to $105 as Trump Doubts Iran Ceasefire and Hormuz Closure Drags On
Updated
Updated · Bloomberg · May 12
Brent Climbs to $105 as Trump Doubts Iran Ceasefire and Hormuz Closure Drags On
4 articles · Updated · Bloomberg · May 12
$105 Brent crude held near its recent surge after Trump questioned an Iran ceasefire, reinforcing fears the Strait of Hormuz will stay shut longer.
Stalled US-Iran negotiations and the continued closure of the waterway signaled elevated energy costs would persist, keeping pressure on global markets.
4.42% on the 10-year Treasury yield reflected that strain, with bonds slipping as higher oil fed inflation concerns.
The dollar strengthened against all Group-of-10 peers on haven demand, while Asian stocks whipsawed despite a broader Wall Street-led rally.
With the Strait of Hormuz closed, is a global recession now inevitable for energy-importing nations?
Will this crisis shatter global energy markets, forcing nations to pursue energy independence?
As the US eases Russian oil sanctions, is Moscow becoming the crisis's unexpected geopolitical winner?