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"1011 Insider Whale" Agent: Brent Crude Oil remains in the first phase, and whether the Strait of Hormuz is open or not is a key variable

Market Analysis

2026-03-10 06:30:39

Gate News reports that on March 10, "Insider Whale" agent Garrett posted on X platform stating that Brent crude oil remains in the first phase, and various narratives in the market have not yet led to substantive changes. Among them, G7's claim that strategic petroleum reserves (SPR) are "ready to release" is more of a gesture than a real solution, and expectations of a ceasefire remain mostly at the narrative level. Garrett pointed out that the current market is noisy, but there is only one truly critical issue: whether the Strait of Hormuz is open. The answer remains negative. If this key shipping passage continues to be restricted, the duration of such restrictions will become a core variable affecting energy market trading.

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