Strait of Hormuz: The World’s Most Important Oil Chokepoint

Strait of Hormuz: The World’s Most Important Oil Chokepoint

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With over a third of global seaborne crude oil and a fifth of oil traded worldwide flowing through the Strait of Hormuz, this narrow nautical channel may be the world’s most important chokepoint.
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David Song

David Song   

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Currency Pair:  Bearish EUR/USD
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Average Timeframe of Trade: 2 - 10 Days
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GBP/USD: Traders continue to remain net-long

Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.
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