Oil News: Crude Oil Futures Poised for Rally if Hormuz Stays Restricted
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Crude oil futures may rally as Iran's Hormuz move revives supply fears. Traders watch key WTI and Brent levels as geopolitical risks return.
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Iran Just Reopened the Biggest Risk in Oil
Vice President Vance sat down with Iranian officials in Switzerland on Sunday and the read going in was that nothing would come out of it. Tehran’s delegation said the talks would cover implementation of the existing agreement, not sanctions, not the nuclear program, not the larger issues that would signal progress. Both sides showed up to defend their positions with the Strait of Hormuz closed between them.