iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Oil Surges on Tanker Attack; Futures Soft

Futures were sharply lower last night and then reversed and fucking soared this morning after news of a wonderful tanker attack in the Gulf of Oman.

Just wonderful wonderful news, when you can both have oil prices climb and the military pushed into action. We must defend democracy, whenever the chance presents itself.

Tankers the Front Altair and the Kokuka Courageous have sustained significant fire damage and its crews have been evacuated, according to shipping agents.

U.S. Naval ships in the area are “rendering assistance” after forces in the region received two separate distress calls, according to U.S. officials.

The cause of the fire remains unclear, but has sparked fears of attack and comes just weeks after alleged ship sabotage in the region.

Nasdaq futures are off 10 and US 10yr bonds are down 1.5bps to 2.112%. My best guess is markets will ignore oil today, as it did on the downside yesterday, and markets will trade lower. We shall see.

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