800 directions in one day, ugh. Just looking at the WTI funding rates on Binance gives me a headache. This morning, Trump said he canceled a major strike, and Iran said it’s fake news. Then there’s another statement saying, ‘Reports that Iran has agreed to reopen the Strait of Hormuz are fake news.’ Everyone’s just drawing lines with their mouths—can someone step in and manage this? But hey, ‘OPEC+ agreed to increase September’s oil production quota by 188,000 barrels/day,’ which is good news. Still, oil prices haven’t fluctuated much. The timeline says September—does that mean they’re expecting negotiations to ease tensions and reopen the Strait of Hormuz by then? But CPI data is coming out the week after next. At least for now, oil prices are still below 81.5. Let’s see if there are any updates tonight and what happens after tomorrow’s market opens. Currently, my short positions are barely breaking even. Overall, I personally feel that even if there’s more volatility, the likelihood of escalating strikes again is low. And if it does escalate, it’ll probably be on a small scale. Maybe Iran’s back-and-forth is due to some unresolved details… perhaps… Anyway, at least the funding rates now are much more reasonable compared to the past few months. DYOR.