In today’s briefing:
- Monday Macro Update: Renewed U.S.-Iran Military Action Possible, But We Retain Our CL Trading Range
Monday Macro Update: Renewed U.S.-Iran Military Action Possible, But We Retain Our CL Trading Range
- There appears to be no letup in the Houthis-Saudi conflict, although as we anticipated, Pakistan and Türkiye are offering “assistance” to Saudi Arabia under the Mecca Joint Defense Agreement.
- At the same time, there are “rumblings” about a renewed U.S. military campaign against Iran, including a possible strike against Pickaxe Mountain.
- Nonetheless, at this juncture we would retain our previously delineated trading range for the prompt NMEX crude oil contract of $95.00-$110.00 per barrel.
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