AhlulBayt News Agency: Parliament Speaker Mohammad Bagher Ghalibaf has warned global oil market participants against relying on unreliable “vibe-trading digital oil,” urging them to focus instead on real physical oil transactions.
In a message posted in English on his X account on Monday, Ghalibaf cautioned traders as markets reopened, calling on them to avoid being influenced by “house of cards that works on paper.”
“Vibe-trading digital oil is like vibe-hedging in treasuries during Hormuz risk-off. Both share one house of cards that works on paper,” he wrote.
He hastened to add, “Difference: oil at least has Dated Brent. Treasuries? Vibes all the way down.”
Iran has controlled the Strait of Hormuz since the United States and the Israeli regime waged a war of aggression against the country on February 28.
Speaking in a televised interview on Saturday night, Ghalibaf reasserted that “the Strait of Hormuz is under the control of the Islamic Republic of Iran,” adding, “If the US does not abandon the blockade, traffic in the Strait of Hormuz will certainly be restricted.”
.....................
End/ 257
Your Comment