Carley Garner says the issue with crude oil isn't getting volume through the Strait but instead how expensive it is. However, seasonality shows oil topping in late October or early November. Carley adds that a dip below $90 can lead to stark selling action in crude oil futures. Sean O'Hara mentions there's another price many traders aren't seeing in traveling through the Strait of Hormuz: insurance costs. He sees those costs backing crude's elevated uptrend. Any substantial decrease in the price of oil is something Sean sees taking pressure of the Fed.
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