Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned financial markets traders’ that digital oil prices and treasuries are manipulative entities, while reminding oil at least has an international benchmark that reflects market conditions.
As markets opened, he wrote on X, “Vibe-trading digital oil is like vibe-hedging in treasuries during Hormuz risk-off. Both share one house of cards that works on paper.”
He added, “Difference: oil at least has Dated Brent. Treasuries? Vibes all the way down,” suggesting that digital oil and treasuries both increasingly detach from underlying fundamentals and standard markets.
US crude oil prices rose by 7.5% on Monday, amid Iran’s accusing the United States of violating a ceasefire that expires on Wednesday. West Texas Intermediate crude, the US benchmark for oil prices, recorded $90.17 a barrel, an increase of 7.5%, while Brent crude, the international benchmark for oil prices, rose by 6.5% to $96.27 a barrel. (AFP)
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