To The Moon

The most closely watched development over the weekend was the progress in talks between the United States and Iran. Based on the weekend news flow, there has been some progress, but the core issues remain unresolved. Since the Strait of Hormuz was blocked a month ago, Gulf countries’ crude inventories are also nearing full capacity. If, during this two-week ceasefire window, the United States and Iran still fail to reach a better agreement that ensures safe passage through the strait, the market is likely to further lift long-term inflation sentiment, creating trading opportunities in the forward contracts of many commodities.I. Focus on the Forward Crude Oil ContractWhen this round of oil price gains first began, the market initially believed the blockade of the strait would be only a sho