US and Iran plan to open the Strait of Hormuz in about 30 days

More chatter in a fluid situation:

• Plan is to open the Strait of the Hormuz in around 30 days.
• Mines would be cleared
• No tolls on ships going through
• Ceasefire would be extended for 60 days.

The nuclear part of the deal and the rescinding of sanctions are more challeging items that would need to be negotiated BEFORE there is increased hostilities.

Another report outlined that Trump administration would support military escalation of Israel’s actions against Hezbollah in Lebanon. That may not go over so well with Iran.

Crude oil moved to a low at $89.41 and below the upward sloping trend line. The next target is at $88.66 the low from May.

Although US stock exchanges are closed the e-mini S&P futures are trading up by 0.98% at 7564.50 and near the high at 7569.75.

This article was written by Greg Michalowski at investinglive.com.