'1011 Insider Whale' Agent: Brent Crude Oil Still in Phase One, 'Strait of Hormuz Accessibility' is the Key Variable

Odaily Planet Daily reports that '1011 Insider Whale' agent Garrett posted on the X platform, stating that the current trend of Brent crude oil remains in the first phase. Various narratives in the market have yet to bring substantial changes. For instance, the G7's claim that the Strategic Petroleum Reserve (SPR) is 'ready to release at any time' is more of a gesture than a real solution, and expectations regarding a ceasefire remain largely at the narrative level. While there is a lot of noise in the market, the truly critical issue is only one: whether the Strait of Hormuz is open. The current answer remains negative. If this critical shipping chokepoint continues to be restricted, the duration of such restrictions will become the core variable affecting energy market trading.