Greetings from the South!
I will not be trading today — but I will be popping in Exodus from time to time.
This is BIG news from Trump, an attempt to kill Iran.
“President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May,” the White House said in a statement. “This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue.”
Brent is encroaching on $74, WTI $66. I see futures are down 100 — but from my vantage point this spike in oil supersedes any weakness the market might endure early on. I’d be a buyer of dips and an aggressive holder of crude stocks here.
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Very interesting.