Oil Slides On Reports Of 'Breakthrough' Coming For Stuck Ships In Hormuz, As US Awaits Tehran's Response To Fresh Proposal
by Tyler Durden
Thursday, May 07, 2026 - 09:10 AM
Summary
Sentiment in early morning trade was lifted after Al Arabiya reported that "the coming hours will witness a breakthrough for the situation of the ships stuck in the strait".
Pakistani sources said Trump has demanded Iran's "immediate response" to Washington's peace proposal.
White House on Wednesday had said it expects a response to the latest offer within 48 hours.
French nuclear-powered carrier steams through Suez Canal in support mission as Europe seeks diplomatic influence over Hormuz outcome.
First Chinese tanker reportedly attacked: shipping industry source told Caixin that this was the first time a Chinese tanker was hit in the three-month-long war, calling it "psychologically very hard to accept."
https://www.zerohedge.com/geopolitical/first-chinese-tanker-attacked-near-hormuz-beijing-urges-waterway-reopened
