OIL COLLAPSES ON LACK OF WAR

Relax — war is coming — just not yet. I know many of you attempted to profiteer on potential war between Iran and Israel — thinking a premium might be affixed to crude in the event. My sense is, nothing will happen until after Ramadan, which ends Tuesday night.

So the trade is as follows: lean into the 1.5% WTI dip, keep buying gold/silver/bitcoin — make sure to hedge for downside action in stocks — wait for happenings. Pardon the macabre commentary on potential loss of life — but this is my coping mechanism: I profit from it. I can lament and whither in the wind or I can use my God given talents to read the tea leaves and make money off it.

I choose the latter.

Futures are obliging and odds are Iran will do something very mid, a feeble attempt at war, as it customary amongst people in the Middle East who seem unable or unwilling to defend themselves.

On the much bigger issue: Russian Urals crude is only 5% from WTI, indicative of TIGHT supply. Ergo, buy the fucking dips.