Oil Spikes As Trump Vows To Hit Iran "Extremely Hard Over Next 2-3 Weeks", Threatens To Send It "Back To The Stone Ages"

 by Tyler Durden

After 48 hours of messaging triumphalism about US achievements, escalatory warnings tied to the Strait and energy targets, frustration with allies, and signals of de-escalation with a shortened timeline for reduced US involvement... President Trump addressed the nation tonight about the war in Iran...

Oil had been selling off heading into Trump's address, with traders looking for clearer signals on whether Washington will end the war in the coming weeks, but started to rally strongly as Trump began speaking as traders did not hear the 'mission accomplished' they were hoping for, erasing all of yesterday's ceasefire chatter... Not what many were expecting... "In a triumph of hope against experience, some oil traders had been looking for clarity from Trump’s speech. He has provided no direction, repeating past comments and mixing bravado and threats with the prospect of an imminent end. That has pushed Brent and WTI higher," said Bloomberg's Clara Ferreira Marques. and not one mention of the word 'ceasefire' or 'uranium'. For crude traders, producers and users, the main takeaway from Trump’s remarks is that the global oil-supply crunch triggered by Iran’s closure of the Strait of Hormuz is probably set to persist through April.

Each day the waterway’s been shuttered has translated into the loss of about 11 million barrels, according to an earlier Bloomberg tally.

(TRUMP HAS NO STRATEGY. HE HAS NO PLAN.)

 https://www.zerohedge.com/geopolitical/uae-poised-join-anti-iran-operations-trump-rips-nato-paper-tiger-says-exit-beyond