Oil is dropping following the restoration of an oil pipeline in Saudi Arabia and rumors of Iran's readiness to open the Strait of Hormuz in 7 days if the US lifts its naval blockade.
Everyone is already tired of the story about the strait, but right now the President of Iran is in the US for the UN General Assembly, and Xi Jinping is flying there soon as well. For the first time since the start of the Iranian war, the US and China are simultaneously interested in falling oil prices, and if they reach an agreement, they could present a united front for opening the Strait of Hormuz.
Ahead of the Congressional elections, Trump doesn't need another victory in Iran; it will be enough to announce a new peace deal and declare the upcoming opening of the Middle East's oil tap.
This will be enough to push oil down to $80, hit a new high for the S&P 500, and fuel the growth of altcoins, which have become interesting again after BTC's transition into an early bull market.
A Trump-pump of risk assets is the main chance for Republicans to keep their majority in Congress after the November 3rd elections. And right now, Donald holds the cards to make this scenario happen 🤒