Overview
- President Donald Trump said he will decide within about 10–15 days whether to launch military action and confirmed he is considering limited strikes tied to Iran’s nuclear program.
- Iran’s Revolutionary Guard conducted drills and briefly restricted traffic in the Strait of Hormuz this week, describing the move as a security measure during exercises.
- Brent traded near $71–$72 a barrel and WTI around $66 after the strongest weekly rally since January, supported by geopolitical risk and an unexpectedly large 16.79 million-barrel U.S. stock draw reported by the EIA.
- The United States has expanded its regional posture, with the USS Abraham Lincoln in theater and the USS Gerald Ford heading to the area, reinforcing deterrence and signaling options.
- Analysts warn a prolonged disruption through Hormuz—where about 13 million barrels per day of crude and roughly 20% of global LNG transit—could push oil well above $100, though outcomes depend on the scope and duration of any conflict.