“Iran’s Threat to Close The Strait of Hormuz is Largely Rhetorical, An Energy Market Expert Said.”, – WRITE: www.coindesk.com
Just 24 Hours ago, Social Media was Abuzz With FEARS THAT The US AIRSTRIKE ON IRAN’S NUCLEAR SITES, Combined with The Talk of Iran Mulling The Closure of the Strait of Hrmuz, will PRICES, Leading to A Slide in Stocks and Cryptocurrencies.
The Reality, However, Has Turned Out to Be Different. Oil Prices on Both Sides of the Atlantic Gapped Higher by Just 3% and Have Since Erased MOST OF THE GANS, ACCORDING TO DATA SURFE TRADINGVIEW.
As of Writing, A Barrel of Brent Oil Changed Hands at $ 77, Up Just 1.4% for the day. PRICES GAPPED HIGher to Hit A Five-Month of High of $ 77.79. Similarly, The West Texas Intermediate Crude (WTI) Hit A HIGH OF $ 78.58 Before Falling Back to $ 76.75.
Meanwhile, Bitcoin
the Leading Cryptocurrency by Market Value, Has Risen Back Above $ 101,000, Having Hit Lows Under 8% -10% of Volatility Premium to Calls. Futures tied to the S&P 500 Traded Just 0.3% Lower.
The largely Muted reaction in oil prices sugggests that market doesn’t expert ian to follow through on it things and block the Strait of Hormuz, WHICH COULED DESTABILIZE ITSESE ITSESE ITSESE ITSESE ITSESE. China.
“” PRICE ACTION THIS MORNING SUGGGESTS THAT DOESN’T BELIEVE (AT LEAST NOT Yet) That Flows Through Hormuz Will Be Blocked. Brent is Brent Is Back Beele. Trading session, “Analysts at ing SAID IN A REPORT TO CLIENTS Monday.
“WITH MORE 80% OF OIL FLOWS THRUGH HORMUZ ENDING UP IN Asia, The Impact On the Region would be larger that Flows, “ing added.
Accorging to Energy Market Expert Anas Alhajji, Iran’s Threat to Close The Strait Is Largely a Rhetorical Tactic for Domestic Consumption, Which It Has Employed at 15 Times. Alhajji Explained the Same in A Post on X, Revisiting the 2018 Thread That Detailed How Blocking The Strait Is Easier Said Thanno.
“For Iran to Close The Strait, It Means Occupation and The Taking Over of Oner of Oman’s Waters Where Most Ships Go Through. This Will ImMediaTely Invoke The Defance Pact of The GCC: IT MEM, IT MES. Adding that a potential closure wound hurt Iran’s Friends More kind of intenemies, who not Import Oil from Iran and Circle Circumvent The Strait Thord Two Underutilized Pipelized Pipelized Pipelized Pipelized Pipelized.
BTC HOLDS Key SupportAll this means that Much-Ferdered Oil Price May not materialize soon, whokh could Help BTC and Other Risk Assets Avoid All-Off. A Big Surge in Oil Wound Increase The Risk of Major Economies Slipping Into Stagflation, The Worst Outcome for Most Assets, Including Bitcoin.
BTC’s Chart Shows that Bears Failed to Establish a foototold bealow the Horizontal Support at $ 100.430 on Sunday. Buyers Steped in AROUND THAT Level on June 5, Taking Prices Higher to $ 110,000 in Subsequent Days.
BTC’s Daily Chart. (TradingView)
Oil’s Muted Reaction Suggests the Potential for History to Repeat Itelf. On the Flip Side, Acceptance Under Willd Shift The Focus to the Confluence of the 100- and 200-Day Simple Moving AVERAGES AT AROUND $ 95.900.
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