There's nothing new; it's still the impact of geopolitical conflicts on the market: during the day, things seemed somewhat better. Both the US and Iran hinted at possible ceasefires, and the Strait of Hormuz also saw some staged movements. But by the evening, the chaos continued. On one hand, it's suspected that Iran has laid mines in the Strait of Hormuz; on the other hand, there are claims that the US escorted oil tankers through the Strait, but in reality, no escort actually took place. It's been like this day after day.

The war has been going on for almost two weeks now, and Iran's resilience might surpass US expectations. I checked some prediction sites regarding the probability of a US-Iran ceasefire: before April, it's only 33%, and before May, just over half. This suggests that the next half month may still see a volatile market, and at least the Strait of Hormuz needs to stabilize for a phase of relief.