Caught the oil trade on a 1.57% 4 day swing. Iran is about to release millions of barrels of oil onto global markets as Saudi Arabia cuts. Governments are reluctant to admit that looming stagflation will make the 1970's look pale in comparison.

I caught the trade on the Crude oil futures at $93.79 (2022.08.26) rallying to $95.26 (2022.08.29), please refer to the chart above.  On the back of U.S. Dollar bids and a hawkish Federal Reserve, however the main issue is the Iran Nuclear deal which will allow billions of barrels of oil from Iran to flood global markets.   But, Saudi Arabia, in its veiled protest, will cut supply + U.S. stockpiles are tightening by the day.  The overall issue is operational costs for oil production are inflation driven making it more expensive to produce industry grade petroleum, beyond the record profits oil companies have made, the fear that America has, is the European energy crisis going into a looming Northern Hemisphere winter, will spill over to the world. 

Once again, stagflation is beginning to look like a brutal storm on the horizon