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The U.S. blockade of Iranian ports could accelerate the drawdown in global oil inventories, further tightening near-term supply and pushing back hopes of market normalization into mid-May, according to Société Générale.
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Stocks post back-to-back gains as traders remain optimistic for U.S.-Iran deal: Live updates CNBCWall Street rallies to the edge of its all-time high as oil prices ease Los Angeles TimesStock market today: S&P 500, Nasdaq rally toward record highs, oil tumbles as Iran deal optimism grows Yahoo FinanceWall Street rallies on renewed hopes for US-Iran talks, earnings boost Reuters
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Investors saw a possible path to peace, with the United States and Iran trading proposals for Iran to suspend nuclear activity.
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U.S. blockade has turned back six merchant ships leaving Strait of Hormuz The Washington PostU.S. Oil Blockade Is Set to Boost American Exports—and Prices at the Pump WSJTrump's Blockade of the Blockaders The AtlanticThe economic game of chicken between Iran and the US is about to enter a dangerous new phase CNNHow geography powers Iran's grip on the Strait of Hormuz, despite U.S. blockade The Washington Post
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