Today, Brent oil prices stayed around $110, while West Texas Intermediate rose slightly as the deadline looms for Iran to comply with US President Donald Trump’s demand to reopen the Strait of Hormuz or risk the destruction of important infrastructure.
Oil markets have been highly volatile since the war started, which limits how long traders can hold positions and keeps their position sizes smaller as they approach risk limits.
Futures tied to the Dow Jones Industrial Average fell 200 points this morning as investors grew more pessimistic about the likelihood of a U.S.-Iran deal before the deadline.
The President wrote Tuesday morning: “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will. However, now that we have Complete and Total Regime Change, where different, smarter, and less radicalized minds prevail, maybe something revolutionarily wonderful can happen, WHO KNOWS? We will find out tonight, one of the most important moments in the long and complex history of the World. 47 years of extortion, corruption, and death, will finally end. God Bless the Great People of Iran!”
On Monday, President Trump told reporters that the latest U.S. ceasefire proposal with Iran is “not good enough,” ahead of his fast-approaching deadline for Iran to reopen the Strait of Hormuz or face significant military strikes on its civilian infrastructure.
“They made a proposal, and it’s a significant proposal. It’s a significant step,” Trump continued, “It’s not good enough, but it’s a very significant step,” adding, “They’re negotiating now, and they’ve made a very significant step. We’ll see what happens.”
By CEO NA Editorial Staff
