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Trump is out with another message:THE STRAIT OF HORMUZ IS COMPLETELY OPEN AND READY FOR BUSINESS AND FULL
PASSAGE, BUT THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS
IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN
IS 100% COMPLETE. THIS PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF
THE POINTS ARE ALREADY NEGOTIATED. THANK YOU FOR YOUR ATTENTION TO THIS
MATTER! PRESIDENT DONALD J.TRUMPIt’s odd that it’s still closed now that Iran has opened its side but it sounds like this is mostly a formality as a deal is likely to come very soon on ending the war.WTI crude oil was last down $10.83 to $83.82.
This article was written by Adam Button at investinglive.com.
đź’ˇ DMK Insight
Trump’s recent statement about the Strait of Hormuz being open while maintaining a blockade on Iran raises immediate concerns for oil traders. The Strait is a critical chokepoint for global oil supply, and any geopolitical tensions can lead to volatility in crude prices. Traders should monitor how this situation unfolds, especially with the potential for increased military presence in the region. If tensions escalate, we could see a spike in oil prices, particularly if Brent crude approaches key resistance levels. On the flip side, if negotiations with Iran progress smoothly, we might see a decrease in risk premium, leading to a pullback in oil prices. Keep an eye on the daily charts for crude oil, especially around $90, as a break below could signal a shift in sentiment. Watch for updates on the negotiations with Iran and any military movements in the region, as these will be crucial in shaping market reactions.
đź“® Takeaway
Traders should watch for oil price movements around $90 as geopolitical tensions in the Strait of Hormuz evolve, impacting supply dynamics.
