Markets Rise as Strait of Hormuz Tensions Ease; US Allows Iranian Oil Transit
Global markets experienced volatility on Monday as traders weighed the complex geopolitical developments surrounding the Strait of Hormuz. The FTSE 100 and US stocks traded higher, reacting to a mix of US policy announcements and ongoing security concerns in the crucial waterway. US Treasury Secretary Scott Bessent stated that the US is permitting certain Iranian oil tankers to transit the strait, a move explicitly aimed at maintaining global oil supplies and preventing a price spike. Concurrently, President Donald Trump indicated that a planned international coalition to protect shipping in the region is not yet ready, citing that some allied nations are 'less than enthusiastic' about joining the effort. This contrasts with Iran's own selective policy, as reported, of allowing safe passage to a limited number of ships from specific countries. The interplay of these factors—increased Iranian attacks on shipping, a tentative US allowance for Iranian oil transit, and the stalled security coalition—created a mixed picture for energy markets. While President Trump's comments on the situation contributed to a temporary drop in crude prices, underlying tensions ensured market sensitivity, with prices jumping again due to the intensified attacks despite broader efforts to stabilize supply.
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Sources
Trump signals coalition to force open Strait of Hormuz is not ready yet: 'Some are less than enthusiastic'
President Donald Trump said Monday that some U.S. allies are not willing to join a coalition to protect tankers in the Strait of Hormuz. Trump said some countries have agreed to help, but he declined to name them. British Prime Minister Keir Starmer said reopening the Strait will not be easy.
US allows Iranian oil tankers through Strait of Hormuz to maintain global supply: Treasury secretary – Middle East Monitor
The US is allowing Iranian oil tankers to transit the Strait of Hormuz in order to maintain global oil supplies, Treasury Secretary Scott Bessent said Monday, Anadolu reports.
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