Geopolitics
US Energy Secretary Wright says roughly 7mln bpd is getting out of the Gulf today, with US military help
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No Iranian crude is getting out of the Strait. If there is no peace deal, US military will restore flow of products through Hormuz. Iranian sanction could be partially lifted if an agreement is reached. A gas tax holiday over the summer is possible to help reduce gasoline prices. Hopes the SPR will be fully refilled.
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