If it weren’t for checking dual currencies, I would’ve forgotten that I’m still shorting WTI. Seeing the price drop below $73, I thought the market had turned around, but after looking everywhere, there’s nothing new. Iran and the U.S. are still throwing harsh words at each other, and Iran is still controlling the Strait of Hormuz. This shows that at least investors in Asia and Europe aren’t very convinced that this conflict will escalate further. So even if the Strait of Hormuz gets blocked again, the changes in oil prices won’t be significant. In this situation, you need to be very cautious about going long on oil. It’s very possible that Trump could TACO at any moment.