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13.03.26 - 15:57
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In Scramble To Open Up Hormuz, France & Italy Open Talks With Iran After India′s Request (ZeroHedge)
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In Scramble To Open Up Hormuz, France & Italy Open Talks With Iran After India's Request
Amid very confused and mixed messaging coming from Washington over the status and future fate of Hormuz oil transit, the EU is trying its hand at a solution.
France and Italy have opened 'tentative' talks with Iran seeking to negotiate a deal to guarantee safe passage for their tankers through vital strait which remains a crucial chokepoint for stalled global crude transit, the Financial Times reports Friday, citing people briefed on the efforts.
This comes as US Secretary of War Pete Hegseth said in a Friday morning Pentagon briefing there is "no clear evidence that Iran has laid mines" in the Strait. This contradicts an avalanche of reporting from earlier this week which said at least a dozen mines were laid.
The two key overnight and morning headlines which have most impacted oil markets remain confirmed India-Iran talks for safe passage, and now EU ef...
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13.03.26 - 13:57
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Futures At Session Highs After Oil Drops Below $100 On India Hormuz Transit Hopes (ZeroHedge)
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Futures At Session Highs After Oil Drops Below $100 On India Hormuz Transit Hopes
US stock futures rebounded from their overnight selloff, and were trading near session highs after three days of losses on Wall Street as Brent slipped below $100 a barrel and investors waited to see if the war in the Middle East would escalate further. The catalyst for the bounce was news that India asked Iran to allow its tanker armada through Hormuz, which would lead to a substantial easing of the global oil shipping blockade. And while it remains to be seen if this will pave the way for other flows through the strait, for now futures have rebounded with Emini S&P futures up 0.3% at 6700 and Nasdaq futures rising 0.4%; in premarket trading Mag 7 stocks are flattish except for the -1.4% decline in META after it delayed the rollout of its new frontier model “Avocado.” Bond yields reverse an earlier rise and were flat higher this morning while the USD is 0.4% higher, with DXY now reaching above 100. Oil pr...
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13.03.26 - 13:36
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Crowds Besiege India′s LPG Dealers as War Crimps Supply (Bloomberg)
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Gas dealer Vishal Vilas Mandhare stares at the snaking queue outside his shop in Pune, which served just 20 people a day before the Iran war. Carrying empty cylinders, clients pepper him and his staff with questions about the looming shortages of India's cooking fuel of choice....
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