Michael West Media · AAP · Sunday 19 April 2026
With economic data thin on the ground, traders are pinning hopes on a fragile Iran ceasefire and the Strait of Hormuz staying open.
Traders praying Trump cuts a deal with Tehran to keep the Strait of Hormuz open is the geopolitical equivalent of leaving the back door unlocked and hoping the bloke who's been casing the joint develops a conscience. Twenty per cent of the world's seaborne oil moves through a waterway narrower than Sydney Harbour, and the contingency plan is a man who negotiates by tweet.