The moment the ceasefire was announced, U.S. crude (WTI) fell from above $114 to around $96 a barrel. A 9% drop in under 30 minutes. 38 days of energy crisis, repriced in 30min. WHAT NOBODY IS SAYING: This ceasefire is not peace. This is a pause. Iran believes it maintained control of Hormuz. The U.S. believes Iran agreed to fully open it. Those two interpretations cannot both be true. In Islamabad someone will have to blink again.... But tonight for the first time since February 28th, the bombs have stopped... 38 days. 3,400 people dead. A global energy crisis. And finally we get a 2-week ceasefire. If Israel doesn't mess it up.