Lates News

Due to Trump's rejection of Iran's proposal to reopen the Strait of Hormuz within seven days, the threat of further delays in reopening this critical waterway has intensified, with WTI crude oil and Brent crude oil rising more than 1% at the open. Traders will continue to monitor the actual flow situation in the Strait of Hormuz. Trump stated that a "record" amount of oil was extracted from the strait on Saturday night. Meanwhile, regional tensions remain high, with the Saudi-led coalition in Yemen saying it intercepted Houthi drones heading to Riyadh on Saturday and missiles targeting Khamis Mushait in the south. Alerts were also issued in Abha and Jazan, where Aramco energy facilities are located.