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Crude slips to $96.60 while the Strait headlines do the heavy lifting
WTI off 1.43%, gold gives back 0.79%, and the Gulf's diplomatic switchboard is busier than its trading desks.
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Karim Al-Rashidi
· 3 min read
WTI closed Friday at $96.60, down $1.40 on the session, a 1.43% move. In isolation that is an ordinary day for crude. In the context of a week in which Qatari mediators flew to Tehran, the UAE confirmed its Hormuz-bypass pipeline is approaching the halfway mark, and Iran published a maritime map that quietly redraws jurisdiction over Emirati and Omani waters, a 1.43% decline is the more interesting number — because it is small.
That is the wrap in one sentence: the diplomacy is loud, the tape i…