Aug 13, 2026 · 15 min · 7 segments
Global markets are being pulled in several directions at once. In this edition of *The Swiss View*, Jess Roberson and Urs Droese discuss the continued uncertainty surrounding the Strait of Hormuz…
Urs DroeseGuest
Jess RobersonHost
It will certainly affect the oil price again once it is open, once it is confirmed.
And that is the hope the world has because a lot of the reserves has been consumed and need to be refilled.
But as we have experienced since March, I would say since the war broke out in Iran, there is so much back and forth, it's difficult to make a decision.
And you also see it that the markets are not moving that much anymore to this kind of news.
So it stays interesting, but you do also see, I have to say on the other side is that people are still nervous.
So they have some skepticism or scrutiny towards this news because the US dollar is still strong.
So it has had a period of strength since the war broke out, which we believe is not sustainable, but... is explainable with the geopolitical circumstances we find ourselves in.
And what we have recently seen is also the gold prices picking up again, which can be to a certain extent, the geopolitical situation, but also maybe central banks re-staggering or like accelerating their purchases.
And I think there's always the challenge of when we look kind of at the central bank environment and the U.S. reserve currency status and kind of how that's shifting.
Are they going to go with digital currency for their buying? Are they going to go back to U.S.
And I think every time the U.S. government says they've won or says the the military operation is back on, there's kind of this waffling back and forth.
And with the oil, I mean, in general, with the trade of Formosa and everything that is going on in this area, I don't really believe it until I see proof.
I think there are a lot of people, a lot of investors that find themselves in the same situation as we do.
It will certainly affect the oil price again once it is open, once it is confirmed.
And that is the hope the world has because a lot of the reserves has been consumed and need to be refilled.
But as we have experienced since March, I would say since the war broke out in Iran, there is so much back and forth, it's difficult to make a decision.
And you also see it that the markets are not moving that much anymore to this kind of news.
So it stays interesting, but you do also see, I have to say on the other side is that people are still nervous.
So they have some skepticism or scrutiny towards this news because the US dollar is still strong.
So it has had a period of strength since the war broke out, which we believe is not sustainable, but... is explainable with the geopolitical circumstances we find ourselves in.
And what we have recently seen is also the gold prices picking up again, which can be to a certain extent, the geopolitical situation, but also maybe central banks re-staggering or like accelerating their purchases.
And I think there's always the challenge of when we look kind of at the central bank environment and the U.S. reserve currency status and kind of how that's shifting.
Are they going to go with digital currency for their buying? Are they going to go back to U.S.
And I think every time the U.S. government says they've won or says the the military operation is back on, there's kind of this waffling back and forth.
And with the oil, I mean, in general, with the trade of Formosa and everything that is going on in this area, I don't really believe it until I see proof.
I think there are a lot of people, a lot of investors that find themselves in the same situation as we do.
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