Crude Falls as Vance Asks Ukraine to Halt Russian Terminal Strikes

Crude fell yesterday as Trump's rhetoric on the Strait of Hormuz swung from bullish to bearish within a single tweet, first claiming the US had total control over the waterway, then pivoting to economic pressure as the main tool against Iran. The bigger story was J.D. Vance asking Ukraine to halt strikes on a key Russian export terminal, a request Ukraine agreed to. That's notable because Ukraine's campaign against Russian oil infrastructure has been a major bullish undercurrent since the Iran war broke out, so a pause there removes one of the market's quieter upside catalysts. Bulls still need a settlement above $84.21 to build conviction on the next leg higher.A close-up shot of JD Vance_ Image by Maxim Elramsisy via Shutterstock_