Markets Retest the Iran Rally Without a Signed Deal
The rally was a bet on paper that still has not appeared, so prices now test the credibility of hope.
Economy
Hormuz Shipping Rules Remain Missing
If passage is normal, the rulebook should be public; its absence keeps shippers watching the strait.
Oil Traders Watch Hormuz, Not Posts
Oil can fall on a peace post, but it stays disciplined by tankers and the strait.
Qatar LNG Risk Stays in Consumer Prices
Gas buyers do not need a formal blockade headline to price uncertainty into winter planning.
Producer Prices Keep Energy Tail Risk
Inflation relief can vanish quickly when the input story still runs through Gulf risk.
Buffett Warning Looks Less Quaint After the Rally
When a market rallies on an unverified deal, old warnings about discipline sound less nostalgic.