Trump's public speech regarding Iran:

Iran is eager to meet, but we (the United States) have no interest. I have no interest in meeting with them before Iran is ready.

We are far from finished with Iran. We are not leaving now; we have already had a significant impact on Iran.

We will strike any locations Iran is considering for nuclear action. Iran has yet to see real strength. We have been very polite. Soon we will strike the mountainous region very fiercely.

Iran may be trying to influence the election through Hormuz.

After Trump's speech, WTI and Brent rose a bit again; there were indeed reports early this morning that a third party was organizing another round of talks between the U.S. and Iran, even proposing a temporary ceasefire agreement for 10 days, but it feels like Trump doesn't care at all now.

Yesterday, the U.S. implemented a new round of price increases for refined oil, with prices rising above $4 again; continuing the blockade of Hormuz is very detrimental to U.S. inflation, which is indeed not good for Trump's midterm elections.

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