Investinglive analyst Adam Button said he is inclined to believe the news previously reported by the media that the full reopening of the Strait of Hormuz will be announced within a few hours or tomorrow, even if this is simply because of the magnitude of the drop in oil prices over the past two days. The oil price trend is indeed like “someone knows some news ahead of time” because this drop has already surpassed what is commonly called the “TACO” market. But his concern is that, given the parties' performance so far, any possible “agreement” is difficult to see as lasting.

Investinglive analyst Adam Button said he is inclined to believe the news previously reported by the media that the full reopening of the Strait of Hormuz will be announced within a few hours or tomorrow, even if this is simply because of the magnitude of the drop in oil prices over the past two days. The oil price trend is indeed like “someone knows some news ahead of time” because this drop has already surpassed what is commonly called the “TACO” market. But his concern is that, given the parties' performance so far, any possible “agreement” is difficult to see as lasting.