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China hopes to convince Iran to allow LNG to pass through HormuzGulf states could review overseas investments – reportFed’s Goolsbee: Institutions are facing a crisis of trustUS admiral: Iran’s ballistic missile attacks have decreased by 90%Trump says Iran is contacting them seeking guidance on negotiating a dealCostco beats on earnings but little reaction from sharesMarkets:Gold up $57 to $5133WTI crude oil down 96-cents to $80.04AUD leads, USD lagsNikkei up 0.5%US 10-year yields down 1.2 bps to 4.14%The US gave Iran a 30-day sanctions waiver to buy Russia crude in a move that’s seen as an indication that the US has a limited appetite to continue to push oil prices higher. China is also pressuring Iran to allow ships carrying its energy imports to pass through the Strait of Hormuz. Those headlines helped to push oil down but notably, it hasn’t stayed down. Brent fell as low as $83.16 but has steadily bounced to $84.47.Despite that, the overall mood is improved. Stock markets in Korea and Japan opened more than 1% lower but are now trading solidly higher. In FX, that’s translated into broad but modest US dollar selling. Trump also indicated that Iran is looking to negotiate. He said it wasn’t the time for that but it’s a sign that Iran doesn’t want to fight, and if that’s the case then something will be negotiated in the 4-5 week timeframe that Trump set out. Gold has been bid up every day this week in Asia and that continued today. It’s up more than 1% and silver is up nearly 3% as precious metals shine in the session. Note though that gold is down on the week as Europe and the US have overwhelmed Asian buying with sales.Expect a tentative finish to what has been a dramatic week.
This article was written by Adam Button at investinglive.com.
đź’ˇ DMK Insight
China’s push for LNG passage through the Strait of Hormuz could shake up energy markets significantly. With Iran’s missile attacks reportedly down by 90%, the geopolitical landscape is shifting, potentially easing tensions that have long plagued oil and gas supply routes. If Iran agrees to this LNG transit, it could boost supply and lower prices, impacting not just energy stocks but also broader market sentiment. Traders should keep an eye on crude oil prices, especially if they start to break below key support levels. The Fed’s Goolsbee mentioning a crisis of trust among institutions adds another layer of uncertainty, which could lead to increased volatility in both forex and crypto markets. Watch for reactions from major oil producers and any shifts in U.S. policy regarding Iran, as these could create ripple effects across commodities. Here’s the thing: while optimism around LNG could drive prices down, be wary of overexposure to energy stocks if geopolitical tensions flare up again. Monitor the $70 level in crude oil for potential support or resistance in the coming weeks.
đź“® Takeaway
Watch for any developments on LNG transit through Hormuz; a break below $70 in crude could signal a shift in energy market dynamics.
