#美军袭击商船#The US military has carried out strikes on Iranian targets for the 13th consecutive night, but Trump still hasn’t decided whether to continue escalating or return to negotiations.

The Strait of Hormuz’s shipping volume continues to decline, and more and more ships have begun rerouting via the Strait of Mandeb, with global shipping still affected.

What the market is worried about is not that crude oil is already in short supply, but the risk that future supply could tighten further. If transportation through the Strait of Hormuz continues to be disrupted, international oil prices still have the potential to spike again.

For the market, what truly needs attention is not whether there are airstrikes every day, but whether navigation through the Strait of Hormuz has returned to normal.

As long as this most important global energy transport route hasn’t resumed normal operations, oil prices, inflation expectations, Federal Reserve policy, and risk assets could all remain under pressure. #夏日创作营