Apr. 27 at 2:26 PM
Day 58
Peace talks b/n the US & Iran stall & shipments thru the Strait of Hormuz remained limited - at least 7 ships – mainly dry bulk vessels – transited the Strait of Hormuz in the past 24 hours
Iran’s Foreign Minister Abbas Araghchi has arrived in Russia for talks w/ officials, including President Vladimir Putin, saying “excessive demands of the US” led to failure of talks
US President Donald Trump says Iranian leaders “can come to us, or they can call us” if they want to talk, a day after cancelling a planned visit by his envoys to Pakistan for negotiations
Israel kills 2 in Lebanon bringing death toll to 38 since the cease-fire. More than 2500 have been killed & 1.6M displaced since March 2
Goldman Sachs raised its oil price f/casts for 4Q26 to
$90 or Brent crude &
$83 for WTI, citing reduced output from the Middle East.
"The economic risks are larger than our crude base case alone suggests because of the net upside risks to oil prices, unusually high refined product prices, products shortages risks and the unprecedented scale of the shock"
The Asia Group: "incentives are misaligned" - “The Russians want this to continue b/c they’re booking record profits while the Iranians need this to stop because they’re not able to export & import"
German Chancellor Friedrich Merz says he does not see what exit strategy the US has in its war with Iran - “An entire nation is being humiliated by the Iranian leadership. At the moment, I don’t see what exit strategy the Americans are choosing"
$ITA $USO $DFEN $UNG $XLE