US-Iran Conflict Isn’t a ‘War,’ Vance Says

Summary

Vice President JD Vance downplayed the US-Iran conflict, saying it should not be called a war because major combat operations ended. Bloomberg's Abeer Abu Omar reported that military escalation around the Strait of Hormuz has eased, but oil flows remain below prewar levels. Brent is heading for a weekly gain despite intraday weakness, and US diesel remains at a four-year high, keeping energy prices in focus.

• JD Vance said the US-Iran conflict is not a war because major combat operations ended.
• The US recently launched new strikes on Iran after attacks on oil tankers near the Strait of Hormuz.
• Abeer Abu Omar reported that military escalations in the region have eased.
• Oil flows through the Strait of Hormuz remain below prewar levels.
• Bloomberg reporting cited 6-8 million barrels per day through Hormuz versus 18 million earlier in the week.
• Brent crude was lower on easing tensions but still heading for a weekly gain.
• US diesel remains at a four-year high, with energy prices a key watch item.