“TACO” has become outdated as Wall Street dives into the “NACHO” trade!

Wall Street is witnessing the rise of the 'NACHO' (Not A Chance Hormuz Opens) trading narrative, reflecting the market's loss of confidence in the short-term reopening of the Strait. Investors are beginning to view blockades and high oil prices as 'normalized features.' This logic is reshaping the oil market, shipping insurance, and interest rate pricing, with Brent crude stabilizing above $100 per barrel. Despite resilience in the stock market, the interest rate market has started pricing in prolonged inflationary impacts and recession risks triggered by the blockade.

wallstreetcn15:19

Mainland China will raise refined oil prices starting from midnight tonight.

According to monitoring data from the Price Monitoring Center of the National Development and Reform Commission, during this recent cycle for adjusting refined oil prices (from April 21 to May 8), international crude oil prices initially rose before falling back. Based on changes in international market oil prices, starting from midnight tonight (May 9), gasoline and diesel prices in mainland China will be increased by RMB 320 per ton and RMB 310 per ton, respectively. PetroChina, Sinopec, CNOOC, and other crude oil processing enterprises are required to ensure stable production and transportation of refined oil products and strictly enforce national pricing policies. According to CCTV reports, on average nationwide, prices for Grade 92 gasoline, Grade 95 gasoline, and Grade 0 diesel will increase by...

AASTOCKS15:19

Citi: Uncertain Whether the U.S. and Iran Can Reach an Agreement; Oil Prices to Continue Experiencing Significant Volatility

Max Layton, Head of Global Commodities Research at Citi, stated that oil prices will continue to experience significant volatility until there is clarity on whether the U.S. and Iran can reach an agreement to end the war. He noted that, given the changes in Iran's new leadership, it is difficult to predict whether an agreement will be reached. Oil prices will be influenced by various news developments and are expected to fluctuate erratically. Layton mentioned that over the past 12 months, the global crude oil spot market has accumulated a buffer inventory of approximately 700 to 800 million barrels. Although this stockpile is currently being actively drawn down, its impact will gradually diminish over time. Before deciding whether to lower oil production forecasts, it is necessary to observe further developments.

AASTOCKS10:41

Express News | Trump Responds to Strike on Iran: 'Just a Small Punishment,' Ceasefire Still in Effect

Breakings06:24

Tensions rise again in the Hormuz region! Iran claims the U.S. violated the ceasefire with airstrikes and has retaliated; the U.S. military states it intercepted an unprovoked attack initiated by Iran.

The Iranian military stated that the US, in collaboration with certain regional countries, launched airstrikes on civilian areas along Iran's coast. The US military also attacked oil tankers heading toward the Strait of Hormuz. The US military claimed to have conducted precision strikes on Iranian military installations responsible for attacking US forces. Iranian media reported explosions near the Port of Abbas in southern Iran, attacks on the docks of Qeshm Island within the strait, and the downing of two 'hostile aircraft' over the port and the island by Iran’s air defense forces. Iranian officials hinted that the attacks were retaliation by the UAE, while Israeli sources stated that the attacks were unrelated to Israel. Iranian military sources indicated that enemy units within the strait were struck by Iranian missiles. Reports suggest that three US destroyers near the strait were attacked. American media reported that Iran and the US are negotiating a short-term agreement to reopen the strait and halt h

wallstreetcn06:23

Report: Saudi Arabia and Kuwait Lift Restrictions on U.S. Military Bases; U.S.-Led Efforts to Secure the Strait of Hormuz May Resume This Week

The United States' resumption of military operations aimed at forcibly securing the strait could further escalate tensions in the Gulf region. Following the reports, Brent crude oil and West Texas Intermediate (WTI), which had fallen more than 5% during trading, rebounded to hit new daily highs, rising by at least 1%. According to reports, the U.S. operations rely on a large fleet of aircraft to protect merchant vessels from Iranian attacks, making the military bases and airspace of Saudi Arabia and Kuwait crucial for the smooth execution of the mission. Saudi Arabia's previous restrictions were reportedly due to dissatisfaction with senior U.S. officials characterizing Iran’s attacks in the Persian Gulf as 'low-level harassment,' thereby downplaying their severity.

wallstreetcn03:02