China oil-themed LOFs opened sharply higher: Southern Crude Oil LOF, E Fund
Crude Oil LOF and Harvest Crude Oil LOF rose more than 5%; Oil LOF and Huabao
Oil & Gas LOF climbed over 3%; Petroleum Fund LOF and Global Oil & Gas Energy
LOF gained over 2%. The move followed President Trump saying, “If Iran does not
sign the agreement, tomorrow (EDT on the 11th) we will bomb them to
smithereens,” calling the deal “the most violated ceasefire in history.” Iran
announced it has closed the Strait of Hormuz to all vessels and said
“unauthorised transits” will be targeted.