According to Kyodo, Iran has informed the Donald Trump administration that it is ready to reopen the blocked Strait of Hormuz “within seven days” if the US accepts its demands, including lifting the US blockade of Iranian ports. The message was reportedly conveyed by a senior Iranian government official.
- Iranian crude exports have been virtually halted due to the port blockade, and Tehran is seeking to break the prolonged stalemate through this proposal.
- Iran’s economic difficulties are deepening as it remains unable to export crude oil, one of the key pillars of government revenue. According to sources, concerns are also growing within the country’s leadership.
- There are also reportedly growing calls in Iran for negotiations with the United States to resume as soon as possible. The conditions for restarting talks could be eased depending on the response from the US side.
- Brent crude fell to a session low near $99 per barrel, erasing earlier gains. The intraday decline is now close to 2%, while the OIL contract is approaching its lowest level since September 8.
OIL chart (D1 interval)
Source: xStation5
🔼 US500 at record high
UK borrowing is above target, again, as Brent gets back above $100
Chart of the Day: Record session for US100 behind us (with a small asterisk)
Economic Calendar - Another day of central bankers' speeches. Is AUDUSD responding to inflation risks?
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.