Oil prices brace for a volatile week after Iran strikes: Hormuz disruption and OPEC+ output move in focus
OPEC+ settled on a plan Sunday to boost oil output by 206,000 barrels a day, despite shipping snarls in the Gulf after Iran warned shipowners that the Strait of Hormuz was off limits. With oil markets closed for the weekend, the real question is whether these additional barrels mean much if tankers are stuck.