“1011 Insider Whale” Agent: Brent Oil remains in the first stage, and the key market question is “Is the Strait of Hormuz open?”

2026-03-10 06:50:51

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ChainCatcher News, “1011 Insider Whale” agent Garrett posted on the X platform that currently, Brent crude oil remains in the first phase, and many narratives in the market have not brought about substantial changes. For example, the G7’s statement that strategic petroleum reserves (SPR) are “ready to release” more is more of a gesture than a real solution, and expectations of a ceasefire remain largely at the narrative level.

There is a lot of market noise at the moment, but only one key issue truly matters: whether the Strait of Hormuz is open. The answer is still no. If this critical shipping chokepoint remains restricted, the duration of such restrictions will become a core variable affecting energy market trading.

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