Commodities
Iran-US Tensions Escalate as New Sanctions Loom
US-Iran tensions have escalated as new US sanctions loom on the horizon. The Trump administration has described the upcoming measures as the 'toughest sanctions in history' against Iran.
The sanctions are aimed at pressuring Iran to comply with international demands, particularly regarding its nuclear program. However, Iran's military leadership has vowed to respond to any new threats with 'crushing, punishing and devastating' force.
Oil traffic through the Strait of Hormuz remains largely stalled, with only a handful of commodity vessels crossing the waterway in recent weeks. The disruption is significant, as the strait normally carries about one-fifth of the world's traded oil.