Atif Bashir

🛢️#wtiup6.17%brentup7.04%  — Oil Just Did Something Brent closed at $100.69 on July 23. WTI at $92.19. One session, both up hard. But the chart is only telling half the story. 🔥 What's Driving This This isn't a routine rally. The Strait of Hormuz is indefinitely closed — IRGC declared it after CENTCOM's fourth strike in seven days hit Qeshm Island and Bandar Abbas. Shipping traffic collapsed from 130+ vessels per day to just 6 in the last 24 hours. CPC terminals suspended. Goldman Sachs now models Brent past $120 in Q4 2026 if Hormuz stays disrupted. FGE warns $150+ is possible if Brent stays above $100 through August. 📊 The Numbers Brent is up +64.89% since January 1 ($61.41 → $100.69). The rolling 3-week gain is the second back-to-back price shock in four months, per Kevin Gordon. 💡 Bottom Line Every safe-haven bid is screaming. Gold ($XAU ) at $4,070. DXY above 101. 10Y at 4.71%. And oil just breached $100 — a level that, if sustained through August, reshapes the entire macro picture: rate paths, risk assets, and recession odds. Key levels to watch: Brent $100 support (now breached), $105–106 next, and $120+ if Strait stays closed. WTI $92 hold, then $100. $BTC #USRaisesAustraliaTariffTo12.5% #DowJonesFallsOver500Points #OilTops$100 #ECBHoldsRatesAt2.25%