šØ OIL PRICES RISE AFTER TRUMP DISMISSES IRANāS PROPOSAL
Oil prices jumped back after U.S. President Donald Trump rejected Iranās proposal to reopen the Strait of Hormuz and resume negotiations within 7 days.
According to Reuters, Brent rose more than 1% to about $106 per barrel, while WTI was up to roughly $93.55 per barrel.
The WSJ reported that Trump told advisors he expects the U.S. to resume attacks on Iran after the midterm election in November. This is information relayed from U.S. officials and is not yet an officially announced military decision.
However, Trump later said he expects the U.S. and Iran to continue negotiations this week, so the situation could still change.
Personal viewpoint:
The most notable factor for the market right now is still the Strait of Hormuz, as this is the worldās important oil shipping route.
If tensions persist and the risk of supply disruptions increases, oil prices may continue to face upward pressure, while also adding pressure to inflation and interest-rate expectations.
On the other hand, if negotiations make progress and Hormuz is reopened in a stable manner, the geopolitical risk premium in oil prices could quickly shrink.
Therefore, this is a key macro factor to watch for stocks, the USD, and crypto in the coming sessions.
š HOT COINS TRADING HERE š
$QNT
$SEI
$PUMP
Oil prices jumped back after U.S. President Donald Trump rejected Iranās proposal to reopen the Strait of Hormuz and resume negotiations within 7 days.
According to Reuters, Brent rose more than 1% to about $106 per barrel, while WTI was up to roughly $93.55 per barrel.
The WSJ reported that Trump told advisors he expects the U.S. to resume attacks on Iran after the midterm election in November. This is information relayed from U.S. officials and is not yet an officially announced military decision.
However, Trump later said he expects the U.S. and Iran to continue negotiations this week, so the situation could still change.
Personal viewpoint:
The most notable factor for the market right now is still the Strait of Hormuz, as this is the worldās important oil shipping route.
If tensions persist and the risk of supply disruptions increases, oil prices may continue to face upward pressure, while also adding pressure to inflation and interest-rate expectations.
On the other hand, if negotiations make progress and Hormuz is reopened in a stable manner, the geopolitical risk premium in oil prices could quickly shrink.
Therefore, this is a key macro factor to watch for stocks, the USD, and crypto in the coming sessions.
š HOT COINS TRADING HERE š
$QNT
$SEI
$PUMP
