Oil Drops as Tankers Cross the Strait

Global oil prices fell significantly as tankers navigated the Strait of Hormuz, while markets digested hawkish Fed minutes and a UK inflation miss.

Key Takeaways

• 1.Oil prices dropped over 5% as tankers resumed crossing the Strait of Hormuz and diplomatic talks with Iran progressed.
• 2.Fed minutes from April revealed a hawkish lean, with officials considering policy firming if inflation persists above 2%.
• 3.UK inflation data missed expectations, with headline CPI at 2.8% year-on-year against a 3.0% consensus.

Table of Contents

• AMERICAS
• EUROPE
• ASIA
• WEEK AHEAD DIARY
• Appendix 1
• Analyst Certification
• Important Disclosures
• Additional Information

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