Oil Flows from Hormuz; Volatility Amid Thin Liquidity
Oil has started flowing out of the Strait of Hormuz, while volatility increases due to reduced liquidity with markets in China, Hong Kong, Taiwan, and the US closed. Central bank actions were in line, and the USTR is focusing on the EU.
Oil flows have resumed through the Strait of Hormuz, a critical chokepoint for global crude shipments. The development comes amid heightened volatility as several major financial markets—including China, Hong Kong, Taiwan, and the United States—are closed, leading to thinner liquidity.
Overnight, central banks issued statements in line with expectations, offering no surprises. Meanwhile, the U.S. Trade Representative (USTR) is turning its attention to the European Union, signaling potential trade policy moves.
Source: FXStreet Forex News