Claims extracted
22
sentences that state something as happening or true
Uncertain
0%
0 of 22 hedged
("reportedly", "may", "according to")
Leaning
not political
takes no side on a contested political question
Publisher signals
94/100
City AM's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
7
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
Oil prices have fallen below $90 a barrel for the first time since August, amid renewed hopes for a Middle East ceasefire deal and an uptick in traffic through the Hormuz strait.
asserted
prices → fall → strait
Brent crude dropped below the symbolic milestone on Tuesday morning, after Donald Trump declared the war with Iran was “effectively over” at a White House press conference.
asserted
war → drop → conference
The President said the US remained “locked and loaded, ready to go for any reason” should there be a further re-escalation of tensions.
asserted
US → say → tensions
But he added the two parties were nearing an agreement.
asserted
parties → add → agreement
“We’re seeing momentum towards the end of the conflict,” he told reporters.
asserted
he → see → reporters
“I think it’s going to be ending fairly soon.”
asserted
it → think → ?
Brent, the international benchmark, has remained well above $90 a barrel for over three months thanks to the stranglehold Iran and its satellite militia the Houthis have maintained over the Middle East’s two main shipping lanes.
asserted
Iran → remain → lanes
Countries across the region have been increasingly swept up in the conflict, further stoking oil prices.
asserted
Countries → sweep → prices
Saudi Arabia has been targeted in a barrage of Houthi strikes, including on energy infrastructure and three of its international airports.
asserted
Arabia → target → airports
Despite the offensive, traffic out of the Strait of Hormuz shipping lane has picked up substantially.
asserted
traffic → pick → lane
Exports of liquefied natural gas (LNG) through the vital trade artery reached the highest total since the onset of the war last month, alongside a parallel uptick in crude traffic.
asserted
Exports → liquefy → traffic
Ceasefire hopes ‘offsetting’ attacks on Saudis in oil market
Brent fell two per cent on Tuesday, extending an easing in the supply-constrained market that saw crude prices tumble 17 per cent last week.
asserted
prices → offset → market
The benchmark is now trading more than 25 per cent lower than its late-October peak of $117 a barrel.
asserted
benchmark → trade → 117
David Mirzai, research analyst at SP Angel, said the diplomatic efforts to end the eight-month war were “offsetting continued attacks on Saudi Arabia by the Houthis and Iran on marine vessels travelling through the Strait of Hormuz”.
asserted
efforts → say → Hormuz
The drop oil price also presaged a rally in both equities and government bonds, as traders pared back bets on the inflationary impact of the war.
asserted
traders → presage → war
Gilt yields fell across both long- and short-durations.
asserted
yields → fall → durations
The two-year gilt yield, which closely tracks inflation and interest rate expectations, has dropped more 20 basis points since a peak of 4.95 per cent struck in late October.
asserted
which → track → October
The yield on the 10-year has fallen more than 30 basis points over the same period.
asserted
yield → fall → period
“10-year gilt yields have fallen almost 25bps [basis points] since the Autumn Budget,” Deutsche Bank strategist Shreyas Gopal said.
asserted
Gopal → fall → Budget
“Global factors, such as the welcome fall in oil prices, have undoubtedly played a large role in this fall in borrowing costs, alongside an increase in equity market volatility.
asserted
factors → play → volatility
“But as our chart of the week shows, UK bonds have also outperformed on a relative basis since the Budget.
asserted
bonds → show → Budget
Indeed, 10-year gilt yields have fallen by about 12bps more than their US and German equivalent.”
asserted
yields → fall → equivalent
The Aporia
