Oil Slips, but the Real Trade Is Still Hormuz Risk
Brent crude edged lower Wednesday, trimming gains from a strong three-day surge as markets tracked two major factors: a shaky ceasefire in the Middle East and the Trump-Xi summit in Beijing later this week. According to Reuters, Brent eased 0.2% to $107.58 per barrel, with WTI slipping 0.4% to $101.79. Both contracts hovered around the $100 mark—a level that’s dominated trading since the Iran war choked off most flows through the Strait of Hormuz.
