US Navy has turned back 13 ships near the Strait of Hormuz. Tanker traffic is down 90%. Here's where things actually stand.
US Navy blockade of Iranian ports. Fully implemented as of Monday.
13 ships turned back. Tanker traffic through the Strait of Hormuz down 90% from pre-war levels. The IEA called reopening the strait "the single most important variable in easing pressure on energy supplies and the global economy."
Iran's response? Threaten to shut down the entire Persian Gulf, Sea of Oman, and Red Sea.
There's technically a ceasefire. Nobody's really honoring it. Peace talks in Islamabad collapsed last weekend. Trump says the war is "very close to over." Tehran is exchanging messages via Pakistan.
Gas nationally is $4.108/gallon. Energy names have been all over the place this week depending on which way the headlines break.
Biggest oil supply disruption in history and it could flip either direction any day now.
How are you positioned in energy right now?