Trump posts on Truth Social:
IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!
Oil has cratered on the announcement from Iran’s foreign minister:
That’s a big head and shoulders pattern.
The market has been sniffing out a TACO since the start of the month and it’s going much more smoothly than almost anyone hoped. There have really been no hiccups other than JD Vance leaving Pakistan but even that stunt was quickly downplayed.
Axios reports that a three-page MOU is under consideration that will deliver $20 billion to Iran in exchange for nuclear material likely being shipped to a third country.
The caveat here is that the Strait is open “for the remaining period of the ceasefire” but I take that as more of a formality. If they didn’t think a deal was very close, they wouldn’t be opening up anything.
This article was written by Adam Button at investinglive.com.