Reuters reported on September 22 that a senior Iranian official stated: If the U.S. reduces military pressure and lifts the blockade on Iranian ports, Iran could reopen the Strait of Hormuz within seven days. Whether this information is true or not, oil prices have already started to drop. WTI is almost below $90, while just a week ago, it broke past $105. While many folks are still waiting for $150 or even $200 oil, Iran and the U.S. seem to be tacitly giving each other a way out. Of course, this could very well be the result of mediation by third-party countries like China. Shorting oil is still the right move. This week, Chinese leaders are visiting the U.S., and if all goes well, oil prices could drop below $80 or even lower in October. As I always say, shorting oil—I’m still very confident about it. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all-in-one trading platform.