Making it a bit more kindergarten-level (but the article referenced is still worth a read) 1. The US and Russia signed a Bering Strait underwater tunnel agreement (MOU) on June 5, signaling a thaw in US-Russia relations. This is hugely symbolic, and the market might anticipate further de-escalation of the Russia-Ukraine war, which could ease inflation concerns. 2. The underwater tunnel includes oil and gas transportation, potentially benefiting North American oil and gas companies. Recently, there’s been a surge in bullish options trading for North American oil and gas firms. 3. OPEC+ will meet on June 7 (Sunday). The signing of the MOU could influence the outcome of the OPEC+ meeting (Russia is a key OPEC member), and OPEC controls 40% of global oil production. 4. The Bering Strait underwater tunnel project will be developed by @elonmusk’s @boringcompany. The project is estimated to cost $8 billion, and the company might merge with TSLA/SpaceX in the future. 5. Expectations of a de-escalation in the Russia-Ukraine war could significantly ease global inflation pressures, especially in Europe and North America. However, the market hasn’t priced this in yet.