Tuesday, June 16, 2026

#Commodities & #Energy Review $USO $UGA #OOTT - Beyond the Ceasefire: The Unfinished Crisis in the Strait of Hormuz

C&E Review
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Beyond the Ceasefire: The Unfinished Crisis in the Strait of Hormuz

An interim peace agreement between the United States and Iran is going to enter a "second stage," President Donald Trump said on Tuesday.

The majority assumes that Trump is fully directing events in the Middle East and other global conflicts, but the invisible hand ultimately exerts far greater influence. No single leader controls all the variables at play. We will examine this dynamic in greater detail in future Commodities & Energy Report updates.  If we see accumulation into falling oil and gas prices, it does not support the narrative of durable peace. Instead, it suggests that market participants are positioning for a continuation of tensions that extend well beyond the reopening of the Strait of Hormuz.

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