Long on Oil: The Strait of Hormuz Blockade Is Getting Worse

Decided to go long on oil futures following the news about the Strait of Hormuz blockade.

Entered @ 96.054. Target around 115, but quite agile about it.

The whole situation feels completely absurd. Back when Iran was the only one blocking it, oil was well over $100, and everyone was scrambling to reopen it. Now, not only is it blocked by Iran, but even if Iran lets something through, Trump blocks it from the other side. In other words, it’s gotten worse. Meanwhile, there’s been no oil flow for a month, and the released strategic reserves should be about halfway gone by now. Either I’m fundamentally missing something about how this "solution" is supposed to work, or we’re looking at oil prices skyrocketing way past $100 and potentially the groundwork for a ground operation. Keeping a close eye on the news.

Not financial advice, do your own research.

Originally posted on Telegram channel.