USOILCrude Oil (WTI)
100.49
+2.47%
Past
What happened
WTI surged 2.5% to $100.49 after Trump declared the Iran ceasefire 'on life support' and rejected Tehran's counter-proposal, raising fears of renewed Strait of Hormuz disruption.
Why
Why it matters
Triple-digit oil is now the base case while Hormuz risk persists — even partial disruption to the strait's 21M bpd throughput would create a supply shock that no SPR release can offset.
Watch
What to watch
EIA inventories Wednesday 17:30 TRT and any Hormuz shipping lane updates — draw above 3M barrels confirms demand resilience; tanker diversion news sends Brent toward $110.
HEADLINES
- Stock market today: Dow rises, S&P 500 and Nasdaq eke out records as chip stocks extend gainsYahoo Finance
- How prolonged Strait of Hormuz closure could lead to oil demand destructionYahoo Finance Video
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