TMAD Commodities: Uncertainty over ceasefire is elevated

$USO $BNO $SLV $GLD $URA

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Now let’s move in today’s update:

PERSISTENT OIL DISRUPTION

The early optimism about a ceasefire is fading fast, and oil prices are climbing back up today. Despite the headlines yesterday, actual ship-tracking data shows that almost no tankers are moving through the Strait of Hormuz. Iran is reportedly demanding huge 'tolls' in cryptocurrency for ships to pass, and many captains are staying put because of security fears and massive insurance costs. The market is realizing that a 'ceasefire' on paper doesn't mean the oil is actually flowing yet.

GASOIL FUTURES PRICE HAS RECOVERED PART OF LOSSES

POSITIONING UPDATE