Trump said he’s “blowing up everything” if the US and Iran don’t reach a deal by Tuesday. (Axios)
This includes power plants, according to the latest in a series of Truth Social threats by Trump. While the president claimed “there’s a good chance” of a deal, the mediators are less confident. Plus, it appears that Trump’s erratic announcements have grown less effective at swaying oil markets.
Meanwhile, OPEC+ agreed to boost its oil output quotas by 206K barrels per day next month. It’s a largely symbolic gesture because members' exports remain blocked by the Strait of Hormuz hold-up.