Oil Holds Gains as Traders Focus on Next Steps for Peace Talks Oil steadied as investors focused on the next steps for peace talks over the Iran war, with the near-closure of the vital Strait of Hormuz prolonging disruptions that have upended global markets.
Michelle Brouhard, Head of Policy and Geopolitical Risk at Kpler, says the UAE's exit reflects a long-running rift within OPEC, calling it a "new chapter" after years with "one foot in and one foot out." She pushes back on claims Iran is collapsing, saying it has faced pressure "for about five or six years," but warns the country may have only "five or six days" before shutting oil wells due to storage constraints. She speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)
