The biggest news today has to be Trump calling out Ukraine, saying they need to replace their president with someone who can make a deal. Yesterday, I saw that the U.S. and Russia reached an agreement on diesel supply, and I had a feeling more drama was coming. Today, the pressure is directly on Zelensky. Calling for a leadership change might just be the first step—Trump probably has a whole series of moves lined up, including using aid and negotiation terms to pressure Ukraine to stop targeting Russia's energy infrastructure, accept the ceasefire arrangements he wants, and more. For Trump, the midterm elections are getting closer, and U.S. fuel prices need to come down. With Iran no longer a reliable option, Putin is stepping in at just the right time. But this help definitely won’t come cheap. For Putin to agree to supply diesel to the U.S. and global markets at this point is like stabbing Iran in the back. Iran has been using energy transport through the Strait of Hormuz to pressure the U.S.—the higher the energy prices, the more domestic pressure Trump faces. If Russia can fill part of the supply gap, it might weaken Iran’s leverage. Not sure if today’s incident in Saudi Arabia is Iran’s retaliation. Riyadh’s King Khalid International Airport was attacked again today, injuring several people and temporarily halting operations. This makes things even harder for Trump. Shortly after, Trump announced that the U.S. might participate in Saudi Arabia’s strikes against the Houthi forces. On one hand, Trump is trying to get Russia to increase diesel supply to ease the pressure from high fuel prices. On the other hand, Saudi Arabia is facing continuous attacks, which puts the possibility of greater U.S. military involvement on the table. If the conflict further impacts energy facilities and transport routes, the relief brought by Russia’s increased supply could be offset by new supply risks. One @Gate, trade more markets.