The US Iran conflict appears to be winding down. That said, there are still several unknowns in regard to how the Strait of Hormuz will operate in the future. And it is also unclear how quickly the situation will return to normal, how much demand destruction has taken place, when the strategic petroleum reserves will cease being used to supply additional crude, and so forth. In short, there are too many unknowns to provide any meaningful commentary.
There are very smart, knowledgeable people on both sides of the bearish bullish debate. Until there is more clarity, I am just going to sit on the sidelines. I hope that within a month or so, the situation becomes much clearer.
I further hope there is more stability in the Gulf so that people in the Gulf can get on with their lives and people around the world can have more predictable and affordable energy.