AGP Executive Report
Last update: 6 hours agoHormuz Tensions: Oil rebounded on Tuesday after falling more than 7% a day earlier: Brent climbed above $106 a barrel as US strikes hit Iran’s Qeshm Island and Tehran said a deal remained distant. Iran says it could reopen the Strait within two days if Washington meets its demands; Qatar says mediation is making progress. Shipping Risks: Iran’s Revolutionary Guards claimed three tankers hit mines in the Strait, underscoring the threat to a chokepoint for global energy supplies. Saudi Earnings: Aramco’s adjusted third-quarter profit rose 9% to $31.2 billion as higher oil prices buoyed earnings, despite attacks and export disruptions. Egypt’s Solar Push: The African Development Bank agreed to provide $66 million for a 500-megawatt solar project with battery storage to supply Egypt’s aluminium industry.
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