Hormuz remains closed, making it difficult for crude oil to fall



Just released news, Iran's Parliament Speaker Kalibaf firmly stated: "Reopening the Strait of Hormuz is impossible under blatant violation of the ceasefire."

In other words—don't expect the strait to open in the short term; the door is firmly shut.

Why is this important? Because the market previously held onto a little hope that "ceasefire means navigation can resume." Now, the Iranian officials have directly dashed that expectation. Crude oil prices had already risen last night, and with this news today, oil prices will only strengthen.

In a nutshell: if the strait doesn't open, crude oil won't decline. Don't go against geopolitical risks.
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin