Look I don't want to talk geopolitics outside of making money but the recent dip in oil on talk of peace is just absolutely bullshit and oil futures and funds are criminally underpriced
Hormuz is 20% of the world's oil and 25% of the gas. We've been shut two straight months already and wells have been shut down, not ready to be restarted even quickly if Hormuz opens tomorrow
Iran is absolutely gonna drag this out to the max possible to cause pain. Israel won't let us settle and neither will the pro Israel Iran hawks in the Senate. Israeli public is like 70% pro war and they're not happy that the job isn't done. Trump would rather no deal than a deal that was worse than Obama's. He's also just kinda sick of this whole thing and probably thinks it'll go away if he ignores it
I don't understand how the market is pricing in "imminent peace deal" every week. Once China and other countries stop draining their reserves and start buying the shit is gonna get real. Somebody tell my why oil/oil companies aren't the move right now
Position: 200 USO @ 141 avg