Central banks and many governments continue to base forecasts on a near-term resolution in Iran that sees the Strait of Hormuz fully re-open to shipping. Seemingly everybody has a Schlieffen Plan where they will be home by Christmas...

Skepticism about a deal to reopen the Strait of Hormuz intensified after the Trump-Xi summit failed to advance a diplomatic solution to the Mideast war.

ABOARD AIR FORCE ONE/DUBAI: US President Donald Trump said Chinese President Xi Jinping had agreed Tehran must reopen the Strait of Hormuz, though China gave no indication it…