CRUDEOIL1! operator trapping in the name of WAR, Anytime Trump tweet come, and they throw crude like a falling knife. Be Caution. Mine upside position is still hold till 73$.
CL1! Most recent comparable, Jan 3 2020, when the Iranian general was killed in an airstrike. $3 jump, but no conflict or actual supply chain restriction, so it was a fade from the initial pop.
CL1! The only way oil can really spike up short term is if Iran decides to close off the Strait of Hormuz. That's only a possibility if US-Iran negotiations go south and Iran really gets pissed off.
IMO, negotiations will be tough and it will put commodity markets like oil on edge for the time being.