🚨Oil’s reaction to the US-Iran war is getting smaller.
Brent crude $CL has risen only around $2 since the MoU expired.
This comes even after Iran reportedly shifted its war strategy from defensive to “fully offensive.”
Compare that with earlier events:
📍Feb 28, war begins: +$19.88 on market open
📍Mar 9, Hormuz shuts: +$26.80 intraday
📍Apr 8, ceasefire: -$14.50 in one day
📍May 4, blockade threat: +$19.69
📍Jul 2, MoU signed: -$42.65 from the high
📍Jul 13, blockade reinstated: +$7.30 in one day
📍Aug 18, "fully offensive": +$2
Each escalation is now producing a smaller price reaction.
#oil
Brent crude $CL has risen only around $2 since the MoU expired.
This comes even after Iran reportedly shifted its war strategy from defensive to “fully offensive.”
Compare that with earlier events:
📍Feb 28, war begins: +$19.88 on market open
📍Mar 9, Hormuz shuts: +$26.80 intraday
📍Apr 8, ceasefire: -$14.50 in one day
📍May 4, blockade threat: +$19.69
📍Jul 2, MoU signed: -$42.65 from the high
📍Jul 13, blockade reinstated: +$7.30 in one day
📍Aug 18, "fully offensive": +$2
Each escalation is now producing a smaller price reaction.
#oil