Correction and editorial revision — 23 October 2026: This retrospective replaces the earlier mixed-time narrative with dated provider observations. Diplomatic progress and portfolio rotation were presented as causes without retained supporting records. The earlier causal explanations and trading implications are withdrawn; their removal is not a finding that every cited event was false. The original input file is unavailable. The cutoff below is the calendar day before the original publication date, selected for this reconstruction; it is not a claim about what was known when the original article was written.
This archive review uses observations available in the retrieved daily history on or before 2026-05-29. Each market has its own closing time. The question is: Did Lower Oil Establish Portfolio Rotation?
The measured comparison
WTI futures moved from $88.90 on 2026-05-28 to $87.36 on 2026-05-29: -1.73%, or $-1.54 per barrel in the quoted series. The five-interval change from 2026-05-21 was -9.33%. WTI futures history.
The US 10-year yield proxy changed -0.2 basis points over 2026-05-28–2026-05-29, while gold futures changed +2.08% over 2026-05-28–2026-05-29. These observations do not quantify lost production, shipping capacity or an inflation pass-through. An oil-price change cannot on its own separate a supply effect, a demand effect and futures-contract effects.
Reproducing the longer comparison
For WTI futures, the five-interval baseline is 96.35 on 2026-05-21; the endpoint is 87.36 on 2026-05-29. The calculation is (endpoint ÷ baseline − 1) × 100 = -9.33%. This uses the endpoints directly rather than adding rounded daily percentages. Five observations need not correspond to one calendar week when a market is closed.
Source-linked daily observations
| Series | Previous date | Previous value | Date | Value | Change | Time zone |
|---|---|---|---|---|---|---|
| KOSPI (^KS11) | 2026-05-28 | 8,185.29 | 2026-05-29 | 8,476.15 | +3.55% | Asia/Seoul |
| S&P 500 (^GSPC) | 2026-05-28 | 7,563.63 | 2026-05-29 | 7,580.06 | +0.22% | America/New_York |
| Nasdaq Composite (^IXIC) | 2026-05-28 | 26,917.47 | 2026-05-29 | 26,972.62 | +0.20% | America/New_York |
| US 10-year yield proxy (^TNX) | 2026-05-28 | 4.455 | 2026-05-29 | 4.453 | -0.2 bp | America/Chicago |
| WTI futures (CL=F) | 2026-05-28 | 88.90 | 2026-05-29 | 87.36 | -1.73% | America/New_York |
| Gold futures (GC=F) | 2026-05-28 | 4,499.30 | 2026-05-29 | 4,593.00 | +2.08% | America/New_York |
| USD/KRW (USDKRW=X) | 2026-05-28 | 1,503.11 | 2026-05-29 | 1,495.29 | -0.52% | Europe/London |
| USD/JPY (USDJPY=X) | 2026-05-28 | 159.57 | 2026-05-29 | 159.27 | -0.19% | Europe/London |
| VIX (^VIX) | 2026-05-28 | 15.74 | 2026-05-29 | 15.32 | -2.67% | America/Chicago |
Scope and limitations
Returns are calculated before rounding from Yahoo Finance daily history, not independently verified exchange settlement records. Index values are in points; the yield proxy is quoted in percent; currency quotes are local units per US dollar; gold and WTI futures are dollars per ounce and barrel. Futures-series changes can reflect contract rolls and are not a continuously held contract’s investment return. These are retrospective observations, not live prices or a reconstruction of every intraday quote available to the original author.
For the underlying method, see the Hormuz evidence and import-cost guide. This page retains its original address for correction transparency. The title and text now reflect the narrower evidence available; the old URL wording should not be treated as a current claim. No trading instruction is retained.
