WTI $96 · DXY 100 · VIX 25 · GPR 117
Brent at $2,195.186.56 – up 51.5% this month – has failed to reopen Hormuz, failed to move the Fed off its single-cut forecast, and failed to produce a Trump-Xi summit date, revealing that the crisis has no diplomatic ceiling and no market-clearing mechanism: energy prices are rising while the institutions designed to…