Oil Breaks $100, but FX Refuses to Follow the Script
What’s happening: Brent broke below $100 after Saudi Arabia restarted its East-West Pipeline, capable of rerouting up to 4 million barrels per day, roughly 4% of global supply, around the Strait of Hormuz, and a senior Iranian official told Reuters Tehran could reopen Hormuz within seven days if Washington eases military pressure. Yet FX didn’t…