Even though the US is preparing to issue super-tight economic sanctions ("Economic D-Day") to completely block Iran’s oil exports this afternoon, oil prices actually fell.
Why? Shipping data shows ship traffic in the Strait of Hormuz has surged by 392% in the past two weeks. The market’s fear that there would be a short-term supply bottleneck immediately eased!
In your view, is this just a temporary correction before a new surge once the US sanctions are released, or is a bearish trend in energy commodities starting to take hold? 🧐👇
$BTC $BNB $NVDA
#Brent #CrudeOil #MacroEconomy #CryptoTrading
Why? Shipping data shows ship traffic in the Strait of Hormuz has surged by 392% in the past two weeks. The market’s fear that there would be a short-term supply bottleneck immediately eased!
In your view, is this just a temporary correction before a new surge once the US sanctions are released, or is a bearish trend in energy commodities starting to take hold? 🧐👇
$BTC $BNB $NVDA
#Brent #CrudeOil #MacroEconomy #CryptoTrading
