Commodities: Markets Whipsaw Amid Re-Escalation In Persian Gulf

ING Economic and Financial Analysis5.33K FollowersFollow5ShareSavePlay(4min)CommentsSummaryOil prices are being whipsawed by developments in the Middle East once again, with what appears to be de-escalation quickly turning to re-escalation.Hopes for de-escalation led speculators to reduce their net long in ICE Brent.LME aluminium prices fell by over 5.5% at one point on Friday after Iran announced it would keep the Strait of Hormuz open during a 10-day ceasefire between Israel and Hezbollah.

Getty Images By Warren Patterson, Head of Commodities Strategy and Ewa Manthey, Commodities Strategist After a large selloff on Friday, energy markets are stronger this morning as tensions in the Persian Gulf build once again Energy - Strait of Hormuz hopesThis article was written byING Economic and Financial Analysis5.33K FollowersFollowFrom Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING.com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals' comments.Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. For our full disclaimer please click here.