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The Strait of Hormuz has now officially reopened fully, with direct confirmation from the US and Iran amid easing geopolitical tensions. This news is a breath of fresh air for the global market, as the vital global oil distribution route has finally returned to normal after being disrupted.
This sentiment was immediately met with a positive response as oil prices plummeted and risk assets such as stocks and cryptocurrencies began to strengthen. If this condition continues, a major rally (bullish) could occur because geopolitical pressures are easing and liquidity is flowing back into the market.
#US-IranTalksVSTroopBuildup