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The same May/June MOU playbook is being played again by the US. Hint at concessions it knows it cannot abide by, alleviate pressure on markets, and then escalate. This is the 2nd time Iran is falling for it as its leverage on the US, oil price, falters with the dramatic decline in the past week. All the while, another major IPO is slated to come. In June, it was SpaceX, and now, it’s Anthropic.

October US crude oil production is done. Excluding production shut-in (from hurricane), US crude oil production averaged ~13.7 million b/d. This is flat exit-to-exit from the end of 2025. https://t.co/Su8G0U5chG

WSJ: President Trump said on Tuesday night that the war in Iran was partially to blame for widespread Republican losses in the midterm elections. But he maintained that he didn’t regret launching the war earlier this year. “Iran was a piece of it,” he said in a phone interview with The Wall Street Journal when asked whether the war contributed to Republicans’ poor performance in the election. The president said he doesn’t have second thoughts about the war, which has dragged down the popularity of his presidency. He has struggled for months to end the conflict and complained to advisers about how it has become a constant problem. “I don’t think about it. I did the right thing. I would have done it again,” he said. The president said he believed the rise in oil prices—rather than the war itself—was the biggest political liability. Gasoline and diesel prices have shot up as a result of the conflict, frustrating U.S. voters.

(WCTW) Show Me The Incentives And I'll Show You What Happens To Oil Prices https://t.co/8V69p2fGTB

US crude oil production has grown less than 1 million b/d since 2019. https://t.co/7XurWS2Syn