That and every day that passes reduces available oil inventories. Iran seems to be in a position to benefit from every day there is no significant opening of Hormuz. The US blockade changes the equation but I haven’t seen any evidence to suggest it’s imposing unbearable costs on Iran. It looks like the Iranian stock market is showing confidence and while there are limits on what is trading it seems to suggest that locals believe things are economically on the right track. I don’t believe that exchanges are perfect proxies for the economy but it’s certainly relevant.
Caveats: I’m definitely not an expert and am relying on machine translations for Farsi language articles.
That and every day that passes reduces available oil inventories. Iran seems to be in a position to benefit from every day there is no significant opening of Hormuz. The US blockade changes the equation but I haven’t seen any evidence to suggest it’s imposing unbearable costs on Iran. It looks like the Iranian stock market is showing confidence and while there are limits on what is trading it seems to suggest that locals believe things are economically on the right track. I don’t believe that exchanges are perfect proxies for the economy but it’s certainly relevant.
Caveats: I’m definitely not an expert and am relying on machine translations for Farsi language articles.