$United States Oil Fund LP (USO.US)$ was watching an analyst interview on CNA just now. He was surprised at how the market reversed when Trump said the war was almost over as he said the current situation at the straits of hormuz is still unchanged.
Some key points:
1) First time straits of hormuz has been closed. This affects 50-70 tankers going through daily. This has already impacted supply chains around the world now. Even if the straits is open now, re-starting the refineries and getting the flow back will take time (likely weeks).
2) Right now one or two ships might try to slip by by turning off their transponders but he said it can’t be done for large tankers due to the nature and value of their cargo. So this makes these tankers an easy target for attackers.
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