There have been plenty of days during the war which saw significantly more traffic than these seven ships that have passed during the ceasefire—including multiple days last week alone that saw 13 ships crossing the waterway. On Wednesday, the day after the ceasefire was announced, only four passed, according to S&P Global Market Intelligence.
Israel agreed to direct talks with Lebanon starting next week at the State Department, ostensibly under U.S. pressure. After the news broke, the S&P 500 reversed its morning loss and is on track for a seventh straight advance—its longest winning streak since October. WTI pulled back to around $97 after spiking above $102 earlier in the session, and Brent settled near $96, despite no indication the Strait is any more open than it was yesterday.
