There is sustained global focus at the Strait of Hormuz, the strategic strap of territory which handles about 20% of global oil shipments.
Just a snap in official policy position in Washington or Tehran, capitals of the two major contenders is enough to see both human nerves and prices either soaring beyond current positions or stabilising.
Each holds significant repercussions for the global community.
On the one are Indications that the United States (US) is on standby, not for hostilities right in the Strait of Hormuz, but preparing to board and seize Iran-linked ships worldwide, which if happens will affect permutations far beyond the Middle East.
But then, Iran is considering attending peace talks with the United States in Pakistan, Reuters says, quoting a senior Iranian official.
If this happens as countries already stretched by the US-Iran face-off would want, there would be an end a U.S. blockade of Iran’s ports.
Contrary to the situation last week, Brent crude futures are up more than 3% this morning to trade around $93 a barrel,.
Stock market analysts foresaw a better earning dawn for investors but that is if talks between the sides go well.
For now, the focus on Hormuz would remain sustained.
Cami Ezenwa is a writer, editor and concepts developer. He has worked with the Daily Times, Daily Independent, Financial Standard and Business Television, to mention a few.
Committed to grooming the next generation of impactful writers, he is an apostle of free flowing prose.
