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In a repeat of situations we have see again and again over the past week and a half, Oil prices are again surging this morning owing to another attack on vital Oil infrastructure. This time, am Iranian missile has struck one of the world's most important Oil tanker terminals in Oman, removing yet another kernel of hope for a quick and simple end to the war.
Good news for the Dollar, bad news for everyone else, two further Oil tankers were also hit by missiles off the Iraqi coast. A tired Trump reiterated again in a press conference last night that the war was "very complete" and will be over "very soon". Odds markets are not so sure, with Polymarket giving the chances of a ceasefire by the end of this month only a 30% chance.
Oil is now back at $95 a barrel, whilst Gas prices are also back climbing despite dropping yesterday, it's very alarming in terms of the potential impact, but neither side seems especially bothered.
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