analysts: Oil Price Performance May Indirectly Confirm Imminent Announcement of Strait of Hormuz Reopening

Odaily Planet Daily News According to Investinglive analyst Adam Button, he is inclined to believe earlier media reports that an arrangement for the full reopening of the Strait of Hormuz will be announced within hours or tomorrow, even if only because of the magnitude of the oil price decline over the past two days. The oil price movement indeed looks like "someone knew something in advance," as this decline has already exceeded what is typically referred to as a "TACO" market. However, his concern is that, given the performance of all parties so far, any potential "agreement" would be difficult to consider lasting. (Jinshi)