Energy Update - Morning Express - Blue Line Futures

Crude is up as Iran and the US traded strikes over the weekend. Iran has struck tankers crossing the strait and the US has retaliated as the "cease-fire" remains in place. On Sunday, both sides agreed to cease strikes and a talk is set for Doha tomorrow. The market's reaction to how flimsy this ceasefire is surprising as a full re-closure of the Strait looks to be in the cards moving forward. Limited traffic crossing the Strait has been seen as the threat of strikes still deters ships.Crude oil unloading dock by Surapol Usanakul via Shutterstock