There are growing numbers of reports from Middle Eastern states and media agencies about a partial resumption of hostilities in the Strait of Hormuz.
- Major US indices are down just under 1%.
- Brent crude is up around 5%, reaching $114 per barrel.
In the morning hours, Iran reported that it hit a US warship with two missiles as it attempted to force its way through the strait. The US side quickly denied these reports via Axios, although the true sequence of events remains difficult to assess.
The United Arab Emirates, via official channels, report that air defenses engaged several ballistic missiles launched from Iran. A fire reportedly broke out at a refinery in the city of Fujairah. Disruptions affected Dubai’s airport.
It remains to be seen whether this is the final act of the conflict before it fades out, or a renewed wave of strikes, partly amid reports of “Project Freedom.” According to Bloomberg, two ships reportedly managed to transit the strait successfully under escort by the US Navy.
OIL (H1)
Source: xStation5
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