Hormuz traffic remains near a standstill as Trump's 'Economic D-Day' campaign pushes Brent closer to $100.
Friday, August 21, 2026
Transits through the Strait of Hormuz have been in single digits the entire week, with Trump's announcement of an 'Economic D-Day' campaign against Iran increasing geopolitical risk premia in the markets. With ICE Brent at $94 per barrel, Asian LNG prices at $24 per MMBtu and VLCC freight rates at exorbitant levels, this week's gradual upward creeping momentum towards $100-per-barrel oil should continue over the remaining days of August.
Trump Turns the Iran War Economic. US President Trump threatened sweeping penalties and 'tremendous consequences' against countries trading with Iran, putting China and its imports of Iranian oil in the crosshairs as the White House announced the start of 'economic warfare' against Tehran.
Iraq Targets 10 Million—If OPEC and Export Routes Allow. Despite current production restrictions that see output around 2.9 million b/d, the new Iraqi government claimed it plans to reach output of 8–10 million b/d within 6 years, seeking a larger OPEC quota and developing alternative export corridors.
#million
Friday, August 21, 2026
Transits through the Strait of Hormuz have been in single digits the entire week, with Trump's announcement of an 'Economic D-Day' campaign against Iran increasing geopolitical risk premia in the markets. With ICE Brent at $94 per barrel, Asian LNG prices at $24 per MMBtu and VLCC freight rates at exorbitant levels, this week's gradual upward creeping momentum towards $100-per-barrel oil should continue over the remaining days of August.
Trump Turns the Iran War Economic. US President Trump threatened sweeping penalties and 'tremendous consequences' against countries trading with Iran, putting China and its imports of Iranian oil in the crosshairs as the White House announced the start of 'economic warfare' against Tehran.
Iraq Targets 10 Million—If OPEC and Export Routes Allow. Despite current production restrictions that see output around 2.9 million b/d, the new Iraqi government claimed it plans to reach output of 8–10 million b/d within 6 years, seeking a larger OPEC quota and developing alternative export corridors.
#million
2 days ago
