Oil bulls were thwarted again after President Trump correctly observed that there is a good chance something will happen. After years of trading futures, I know that predicting “something will happen” is almost always a safe call. This time he was referring to an Iran deal—one of many—and the market is acting as though this one might actually hold.
Of course, the President also said, “We will take Pickaxe Mountain out if no deal.” He noted that the confines of a deal with Iran are there, but “we...
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