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Hormuz Crisis Deepens as US Confirms 13 Dead and Oil Surges, Latin America Moves to Cushion Shock

Hormuz disruption is translating into pricier energy that governments are now trying to buffer.

Overview

  • CENTCOM confirmed six aircrew dead in a tanker crash in Iraq, raising US military fatalities in the Iran operations to 13.
  • Iran’s Revolutionary Guard said it attacked two vessels in the Strait of Hormuz as the new supreme leader vowed the blockade would continue.
  • Global crude remains near $100 a barrel despite the IEA’s release of 400 million barrels to steady supplies.
  • A Western intelligence official told CNN that Russia is assisting Iran with advanced drone tactics drawn from the Ukraine war.
  • Mexico’s finance chief outlined fuel-tax cuts to stabilize pump prices, while Peruvian transport leaders announced plans for drastic actions, including a potential national strike, after violent attacks on buses.