++++++++++++++
This was almost inevitable as long as Israel/Netanyahu continues the current behavior, the latest of which was to intentionally provoke Iran by bombing the Iranian consulate, killing 7 key people earlier this month!
Added: The most interesting element to this was Iran telling Israel, the United States and the world that the attack is coming and WHEN so that Israel and others will be prepared to defend it.
Crude Oil:
1. 1 week
2. 1 year
3. 35 years
https://tradingeconomics.com/commodity/crude-oil
Any guesses on where we open tonight?
Higher at first then, potentially selling off?
Or stay supported?
Crude/Gold and other markets are clearly going to be high risk trades and news driven at times.
Higher on the open, then quickly to slightly lower, now around unch after 7 minutes.
The market is saying that it already knew this was coming and traded it last week/Friday.
It's early. New news might change in this unpredictable/volatile environment.
-32c just less than an hour trading. Volume just under 16,000. I don't follow crude volume but that seems on the high side this early.
RB and HO actually up slightly. The market has no clue where to go right now but wants to hold risk premium.
Crude is crashing lower, almost -$3. One assumes that the threat of Israel escalating has just dropped greatly.
1. 1 week
2. 1 year
3. 5 years
4. 40 years
https://tradingeconomics.com/commodity/crude-oil
Israel strike in Iran spiked oil more than 3.50 higher. Still holding much of the gain +2.80 or so.
Where is crude going next? Israel's actions will likely determine much of that.
https://tradingeconomics.com/commodity/crude-oil
https://www.reuters.com/business/energy/oil-falls-third-day-us-crude-inventories-swell-2024-05-01/
