Day: April 8, 2026
Several blasts were reported at the Lavan oil refinery on Iran’s island of the same name, the Mehr News Agency reported on Wednesday, AzerNEWS reports.
Several blasts were reported at the Lavan oil refinery on Iran’s island of the same name, the Mehr News Agency reported on Wednesday, AzerNEWS reports.
Several blasts were reported at the Lavan oil refinery on Iran’s island of the same name, the Mehr News Agency reported on Wednesday, AzerNEWS reports.
The market’s initial reaction—the sudden evaporation of the “war premium” on crude—is largely a psychological phenomenon. For months, the price of a barrel has been propped up not just by supply and demand, but by the sheer existential fear of a total shutdown of the Strait of Hormuz. With a fourteen-day window of silence, that fear has momentarily subsided as traders rush to lock in profits.