Oil Keeps Bouncing Because the Ceasefire Keeps Not Working
WTI closed at $97.87 after crashing to $94 on ceasefire news, rebounding 3.7% in 24 hours.
Economy
Gas Hit $4.16 and the War Premium Is Not Going Away
The national average hit $4.16, up from $2.98 pre-war, with California at $5.89 a gallon.
Nine Days Until the Sanctions Waiver Expires and Nobody Is Talking About It
The third Iran oil sanctions waiver expires April 19 and is not part of the Islamabad talks agenda.
Australia's Fuel Crisis Is Improving and the Ceasefire Gets the Credit
Dry petrol stations have halved from 555 to 274 in four days, but the government warns the ceasefire is a signal, not a supply solution.
Japan Remains the Biggest Ceasefire Winner
Japan imports 85 percent of its oil through the Strait of Hormuz, making the ceasefire existential.
Mexico's Truckers See a Path to Resolution
Mexican truckers hope fuel flows resume if the ceasefire holds, but hope is not diesel.
Maersk Still Will Not Send Ships Through Hormuz
Maersk says the ceasefire may create transit opportunities but does not provide maritime certainty.