Israel vs Iran Price Jumps Fail to Materialize
If you were one of the ones I spoke with Sunday evening after news of Irans strike on Israel, you knew I was all in that we were headed for new highs. In what turned out to be a Nothingburger without any Mac Sauce, Israel and their allies basically played space invaders on Iranian drones and missiles. US aircraft were said to have neutralized over 30% of the weapons alone. It will be interesting to see how Irans street cred is affected going forward, as we sit now, the market is unwinding a healthy chunk of the threat premium that’s been added in recent months. ULSD futures now sit below the much talked about support level of $2.60.