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By Rodrigo Santos Andrade
Why oil traders are pushing back against the NACHO trade | Morning Bid
visibility comment0 event May 22, 2026 timer 07:23
Oil traders are pushing back against the NACHO trade – "Not Any Chance Hormuz Opens" – sending Brent crude down around 6% on the week as positive signals emerge from U.S.-Iran talks. But differences over Iran’s uranium stockpiles and a toll on the Strait of Hormuz as well as President Trump’s threat to resume bombing hangs over negotiations. Plus, Kevin Warsh is officially sworn in as Federal Reserve chair at the White House today.
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