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Commodity Compass - 4/18 - The Week that Was Not
Published 1 month, 2 weeks ago
Description
If last week was the ceasefire that wasn’t, this week was the reopening that wasn’t. The U.S. Navy opened the week by announcing a blockade of Iranian ports and mine-clearing operations in the Strait. Oil rebounded sharply — Brent pushed back toward $99 — as the Islamabad talks between U.S. and Iranian officials collapsed midweek and the supply disruption narrative hardened.