18 Mar '26 11:09
Iran's strategy appears to be failing - judging by today's oil price chart.
Price has actually been falling over the past 4 days.
This goes against projected trends resulting from closure of the Straight of Hormuz.
Two hypotheses
- the Straight is now open
- there is market manipulation of oil price
19 Mar '26 02:17
The above chart was WTI (West Texas Intermediate) over 1 week only.
This 12-month chart for Brent Crude creates a bigger picture of reality and shows Iran’s strategy is succeeding. Note $115 per barrel is high, but not as high as the short-term COVID peak of $120 per barrel in 2020 when the world was locked down and oil supply chains hampered because of this