Middle East crisis Oil market

Iranian President: The situation in the Strait of Hormuz will not be the same as before

The situation in the Strait of Hormuz will not return to how it was before the war, writes Iranian President Mohammad Bagher Ghalibaf on X.

At 19:30, oil prices are strengthening slightly from previous levels.

Both Brent and WTI oil have been traded up on Tuesday after Iran launched new attacks on energy infrastructure in the Middle East.

Expert: Can't guarantee security in Hormuz - despite naval escort

Donald Trump is urging both China and the EU to intervene militarily in the Strait of Hormuz, but it should not be seen as a sustainable solution. This is what Arsenio Dominguez, head of the International Maritime Organization (IMO), told the Financial Times.

- It reduces the risk, but the risk still remains. Merchant ships and sailors could be affected, he says.

According to Dominguez, no naval escort can 100 percent ensure the safety of ships that want to pass.

The warning sign of recession: “It will be difficult to avoid”

The war in the Middle East has caused the price of oil to swing sharply upwards. This in turn increases the risk of recession, writes Moody’s chief economist Mark Zandi on X.

According to the credit rating agency’s AI model, the probability of a recession within the next twelve months is now 49 percent. The rise is triggered, among other things, by weak labor market figures.

Mark Zandi points out that in principle all previous recessions have been preceded by periods of rising oil prices. On Tuesday, both Brent and WTI oil continued to rise.

“If oil prices remain high for a longer period of time (weeks and not months), it will be difficult to avoid,” he writes.