When the headlines eventually turn positive the reaction in equity markets will be a sight to behold, maybe ten, maybe fifteen percent upside in a matter of days. And maybe 20% to 25% in weeks.
It almost seems the whole world is waiting for a reason to buy stuff that has been knocked down in price.
That said, this news isn't big enough to be the trigger but is something to be aware of underneath the doom and gloom.
From Tokyo's Kyodo News Agency, March 21:
TEHRAN - Iranian Foreign Minister Abbas Araghchi has said Tehran is ready to facilitate the passage of Japanese vessels through the Strait of Hormuz, a key artery for global energy shipments, and that negotiations with Japan on the issue are ongoing.
"We have not closed the strait. It is open," Araghchi said in a telephone interview with Kyodo News on Friday. He also stressed that Iran, which was attacked by the United States and Israel in late February, is seeking "not a cease-fire, but a complete, comprehensive and lasting end to the war."
Araghchi said Iran has not closed the strategic waterway but has imposed restrictions on vessels belonging to countries involved in attacks against Iran, while offering assistance to others amid heightened security concerns.
He added that Iran is prepared to ensure safe passage for countries such as Japan if they coordinate with Tehran.
Japan relies on the Middle East for over 90 percent of its crude oil imports, most of which travel through the strait.....
....MUCH MORE