Trump rejected Iran's 7 conditions today Beijing time and stated that bombing would continue after the midterm elections. Crude oil quickly rebounded to $96.7. This was revealed by internal officials but hasn’t been personally confirmed by Trump yet. However, this doesn’t necessarily mean things will continue to deteriorate—it’s just an initial pressure test between both sides. The key to this game lies in Iran’s economic resilience versus the cost tolerance of American voters—who will force their leaders to adjust conditions first? The outcome might not come quickly, but it’s shaping up to be a prolonged battle. Time to trade the waves and take advantage of high points in the expected market moves. #CrudeOil