Will Cunliffe
Research Analyst, The Officials
Fabricating peace
The US and Iran are making progress...apparently, Libya could fall into chaos, the Rhine's desperately low and the Fed's losing billions.
The US and Iran are making progress...apparently, Libya could fall into chaos, the Rhine's desperately low and the Fed's losing billions.
The mediators between the brawling Americans and Iranians say they’re making progress! It’s a composite approach, however, as Trump also threatens “powerful force” strikes against Iran – but the Iranians have proven impervious to carrot and stick diplomacy, especially when the carrot is so untrustworthy and fleeting while the stick misses its mark…We’ve been here before, with promises of diplomatic breakthroughs, rapidly torpedoed by renewed bombing or droning. Even so, flat price dropped around $1.50 on the news at midday and moved mostly sideways in the early afternoon. By the London close, it recovered to $88.20/bbl. Libya is at serious risk of falling into chaos, as last night saw a drone attack on the Zawiya oil complex. A car bomb was also set off in Benghazi and the Central Bank governor resigned. Despite the attacks on Libya’s oil infrastructure, CFDs softened from yesterday.
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Benchmark reports published at the end of the London trading day.
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