Despite ongoing tensions between the US and Iran, which have driven inflation in Iran to 70 per cent and unemployment rates up, both nations appear to exhibit a lack of urgency in negotiations over Iran's nuclear program and related sanctions.
Trump continues to claim a deal is close, but threaten military action should there be a lack of tangible progress. It is not the first time he has played this card.
Meanwhile, European refiners are increasing jet fuel production in response to higher prices, sourcing replacement volumes from the US and West Africa as instability in the Middle East persists. The UAE advances its pipeline project to bypass the Strait of Hormuz, marking strategic developments amid geopolitical uncertainties.