Crude Oil Market: Trump keeps using the first chart every day to 'numb' the market. Last night, we saw another dramatic 'dialogue.' Saudi media claimed that Iran agreed to stop uranium enrichment in exchange for the U.S. easing sanctions, but this was later denied by Iranian officials. Trump also denied this morning that the U.S. would ease sanctions or release frozen funds in exchange for Iran taking substantive measures on nuclear issues. Crude oil prices dropped from 96 to 91 yesterday, currently rebounding around 93-94. My short position on crude oil at 96-95 is making me sick to my stomach. Right now, the U.S. and Iran are in a tug-of-war. The good news is no bombs have gone off yet, and third parties are still mediating. The bad news is neither side is willing to back down. Here’s a tip: if negotiations show progress, don’t miss the chance to short crude oil—it’ll drop at least 10 points, with a target directly at 83-85. If the conflict reignites, abandon all short positions.