Every week that passes makes the nature and the contours of the Iranian war ever more unequivocal. Now that the conflict has entered its fifth week, the political, economic, and oil market consequences are becoming clearer, and the outlook is discouraging. The end is anything but nigh, and whilst hoping for the best is human nature, expecting the worst is common sense.
Oil prices took an early breather this morning, although by the performance of Gasoil futures, it looks as if diesel did not get the memo and inspires the rest of the complex to once again rally and doubt the US framing of current negotiations. President Trump in all the magnanimousness he could muster, granted Iran a further ten days to agree to the terms set out in the US offer of a ceasefire, and civilian power supply targets would be left be during which Trump expected Hormuz to be opened
The wider suites remain reactionary to the oil price and any movement or risk will be nailed to the fortunes of our market for the foreseeable future. Even the landmark court case in Los Angeles where Google and Meta have been found negligent in how their social media platforms are harmful to children is easily brushed over by the myopic gaze toward the oil price. At present the audiences of the world seem to believe the Iranian take on ceasefire negotiations being far away in accord.
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