Late-night update: The boss supports the US and Iran returning to the 'Islamabad Memorandum of Understanding.' WTI and BZ oil prices are starting to fall. News: US and Iranian negotiators are discussing a phased agreement to end the conflict. Just now, the Iranian Foreign Minister stated they are willing to reopen the Strait of Hormuz within 7 days, but certain conditions must be met. Oil prices for WTI have further dropped below $93. The big shots have spoken—now it’s up to the sincerity of the US and Iran. It’s still not time to pop the champagne at halftime. We can only wait and see how both sides progress. But at least for now, the worsening surge in oil prices seems to have paused. There’s an expectation for both parties to sit down and negotiate. After all, no one can tolerate these high oil prices. Not sure if anyone jumped in to short during yesterday’s rebound—if you were too scared, no worries. Last night, I added to my short position near BZ $99, raising my entry price. Now it’s all about the outcome of the discussions. Hope Trump can seize this opportunity—high inflation expectations are looming. Oil prices, please come down soon!