Key Points
- President Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks, but the blockade of Iranian ports continues.
- According to Tasnim, the Iranian negotiating team informed Pakistani mediators that it will not attend talks in Islamabad on Wednesday, and “there is currently no prospect for participating in the negotiations.”
- The last oil tankers to traverse the Strait of Hormuz before the conflict started are now offloading their cargoes.
- Global markets face a crude oil shortage of 10 million barrels per day for as long as the Strait of Hormuz remains closed.
- The IEA coordinated release of 400 million barrels from reserves will last 40 days.
- China halted purchases and released crude from its extensive reserves to minimize disruption, but is expected to resume purchases in weeks.
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Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.