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Hello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
President Donald Trump has ordered the U.S. Navy to blockade all vessels heading in and out of the Strait of Hormuz, in a counterintuitive move that followed another round of talks aimed at, among other things, the reopening of the waterway critical for energy supplies.
As the clock ticks down to the deadline for the blockade to kick off, investors are on tenterhooks with little visibility on how it will be implemented, and how long and deep an oil shock needs to be priced in.
A round of 21-hour marathon U.S.-Iran peace talks hosted by Pakistan over the weekend ended in a stalemate, with U.S. President JD Vance flying home without a deal.
