Guardian Business
Rolling coverage of the latest economic and financial news Strait of Hormuz blockade explained: why is Trump threatening it now and will it increase the price of oil? The breakdown of US-Iran peace talks last weekend has only led to modest losses in Asia-Pacific markets. Japan’s Nikkei index is down 0.75%, while Hong Kong’s Hang Seng index and the South Korean KOSPI have both dropped by 1.15%. While crude has advanced, and stocks slipped a touch, the overall market reaction to the weekend news of a US Navy blockade of the Strait of Hormuz has been relatively contained, as participants view the move largely as a negotiating gambit from President Trump. While it’s clearly a risk-averse start to the trading week, amid President Trump’s announcement of a Navy blockade in the Strait of Hormuz, the general market reaction can be summed up as ‘could be worse’. “I gave my notice exactly one month ago. I’ve informed the master, I’m not willing to sail through the strait. It’s about safety, it’s all about safety.” Continue reading...
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