🚨 Two container ships were hit near the Strait of Hormuz today
Brent touched $100 before pulling back to $99.20, WTI is sitting at $90.30, both up roughly 0.8% on the day.
One of the attacks has been directly pinned on the IRGC, both crews are reportedly safe.
$TRUMP extended the ceasefire and markets held onto that, but nobody is pretending talks are actually moving forward.
That tension is exactly why oil can’t find a direction right now, the headline looks fine but the reality underneath it doesn’t.
Most analysts have $75–80 as their price target for the next 3–6 months once the risk premium starts bleeding out, but every ship that gets hit keeps that premium alive longer than expected.