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taishiro
Diplomacy is offering the oil market some relief, but the Strait of Hormuz remains the real test.
Saudi Arabia, Turkey and Pakistan held talks with Iranian officials in Tehran on October 26 to prevent further military escalation. Oman is also reporting progress toward a temporary arrangement to restore freedom of navigation.
Yet Brent crude remains around $115 per barrel, showing how little confidence the market has in a quick return to normal supply conditions.
#USIranHormuzTalks
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Today’s market buzz
1#BTC fell below $75,000 before the US October CPI release
2#AI stocks pull back: UBS says position reset, Bank of England warns of crash risk
3#Trump says the possibility of a large-scale strike on Iran is low, oil prices plummet
