Oil spikes to $71.66 per barrel, after Trump stands firm on his tariffs threats on India and China, and possible reinstating sanctions on Russian oil exports. Is Trump going around in circles, bluffing or playing brinkmanship with Putin? With Ukraine in the middle. Trump wants to bomb Iran.
(Chart 1)
Can Donald Trump maintain the Tariffs/Sanctions on Russia bluff? The issue here is not Trump, but Vladimir Putin forcing the U.S. to be more aggressive towards Ukraine in pushing for Volodymyr Zelenskyy removal as President, to which Trump is resisting. Oil has passed through the psychological $70 per barrel, and is bid over $71, which is a major daily spike in the oil price. Markets are skeptical either one are going to back down, as Trump wants to initiate his brand of corporatism onto Ukraine and "own" its Nuclear reactors and Rare Earths deposits, Russia wants Zelenskyy gone, to favour a more Russian friendly Ukrainian government. Such is peace, negotiated through dictators.
A lesson or failed lesson of foreign diplomacy gone down the tubes.
Also, note Trump's threats of forcing Iran, with his 'hell to pay' (if the Israeli hostages are not released), bomb Iran option, such as his Gaza threats of early 2025 to which Israel took as a green light to continue its genocide of the Palestinian people. He obviously didn't bluff.
All eyes Putin 'Shadow' Fleet of oil tankers. Will they be stopped by the U.S./EU?
Next price Resistance: $75. Please refer to Charts 1,2
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All oil price analysis and commentary to date: chiasmusmagazine.blogspot.com/search/label/oil%20markets
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