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Iran’s Yuan Oil Demand
The hot takes started flying before the ink was dry.
Iran announced it. Oil spiked past $110 a barrel. WTI pushed into the high nineties. In Asia, spot crude for immediate delivery crossed $150. And suddenly, every pundit who couldn’t find the Strait of Hormuz on a map six weeks ago was declaring the end of the petrodollar system.
The headline writes itself: Iran bans dollar oil sales. Yuan rises. Dollar dominance collapses.
You know the pattern by now. The narrative runs ahead of the mechanics. And when the narrative runs ahead of the mechanics, you get hurt.
So before you make any decisions based on what you’re reading in the financial press right now, step back. Think about what’s actually being said here...and more importantly, what isn’t. Let’s dig in.
