Hormuz Ceasefire Lapses: Oil's Fourth Straight Rally
Brent crude closed out its fourth straight up session on Wednesday, August 19, trading in a $91.72 to $92.36 range as the U.S.-Iran ceasefire signed June 17 lapsed two days earlier without an extension. WTI held $84.79 to $85.63. The move is real, but it is not the kind of panic spike this market saw in the acute war phase back in February and March, when Brent briefly touched $126 to $147. This is a slower, grinding repricing of an already-elevated risk premium, and the levels that matter now sit closer to where the market has already tested and held. WTI‑Brent spread divergence
The headline mechanics are simple enough. Trump said this week there are no talks scheduled with Iran. Tehran's re…
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