Trump spoke on Fox News and Israel came up. The comments appear to be putting some downward pressure on oil, with the sense that there are some lines being drawn between the US and Israel. The market is extending that to the idea that the US will make a deal with Iran. I’m skeptical that’s what Trump is really implying here but the price action in oil this week is dramatic.
- Aid gets cut off at year-end
- They don’t need it
- If the ydid need it, I would say to keep going
- Reached agreement with Netanyahu
WTI was last down $2.42 to $94.05.
I tend to thing that the oil market is heavily manipulated this year and that insider trading is rampant. That said, I think everyone in markets would love to stop chasing Iran war headlines.
At the same time as the Israel headlines, there have been reports that Washington has approved the draft MOU, with the source again being Al-Jadeed, which is questionable IMO but was the same driver as the selloff yesterday. It says that discussions now revolve around the first steps and reaching an interim agreement, with both sides making concessions on nuclear and frozen funds.
Eyes will be on this in the hours ahead but I would love to see reporting from a more-credible source.
