Close-Up Pieces
XOM · CVX · SPY− 2.60%Monday, August 2411 Min Read
The New U.S. Iran Sanctions List Names No Chinese Banks; Oil Fell
The U.S. Treasury announced its August 24 Iran package as "the single greatest financial offensive ever marshaled against an adversary"; what came out of it was six tankers and five sectoral determinations. The banks the payments actually run through were not on the list, and Brent settled $2.22 lower that day.
- XOM · CVX · SPY+ 3.86%
Friday, August 710 Min Read
Hormuz Traffic Fell From 130 Ships a Day to 8, and Oil Rose 16%
Iran and Oman have agreed an arrangement that governs the Strait of Hormuz through lanes, tolls and fines of up to 20% of cargo value. The market priced a reopening; what Iran priced is permission.