TD Securities: Failure of peace talks triggers uncertainty in the oil market

Golden Ten Data reported on April 13 that TD Securities analyst Ryan McKay stated that after the breakdown of peace talks between the US and Iran, he still has “many questions” in his mind. He wrote: “Is the ceasefire agreement still in effect? Does the dialogue still offer the possibility for further negotiations? The oil market is already under urgent pressure, and the failure of these talks—combined with the blockade on Iranian oil shipments—increases the risk of further supply disruptions and shortens the timeline for gradually emerging supply tightness.” He said that Trump announced a blockade of the Strait of Hormuz, which could further intensify pressure on the oil market. He noted that the US blockade could cut off about 2 million barrels of oil per day from Iran, and during this conflict, Tehran has been able to maintain this level of supply.