The Kobeissi Letter
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Joined June 2015
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BREAKING: Mediators are working to push the US and Iran into a new ceasefire, per WSJ.
Details include:
1. Mediators are worried the US and Iran could settle into a pattern where they keep conflict below the level of all-out war but disrupt regional economies indefinitely
2. Traffic in the Strait of Hormuz has now collapsed to just 10 ships per day
3. Qatar has floated the idea of a 10-day ceasefire and an end to restrictions on shipping in the Strait of Hormuz to cool tensions
Brent crude oil prices continue to trade around $90/barrel.
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