You may be exhausted by following the on-again/off-again aggressions in the Persian Gulf. After trading fire throughout the weekend, it appears that Iran and the United States have called off further tit-for-tat strikes and want to resume negotiations toward peace. President Trump posted this morning that Iran has requested a meeting, and that it will take place in Doha tomorrow.
On Saturday, Trump announced strikes against Iran in response to the Islamic Republic’s targeting of ships transiting the Strait of Hormuz. He wrote:
United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN! It is very possible that they will never learn! There may come a point when we are no longer able to be reasonable, and will be forced to militarily complete the job that we very successfully started. If that happens, the Islamic Republic of Iran will no longer exist! President DJT
Iran had targeted the ships on Friday, which Trump announced, writing:
The Islamic Republic of Iran shot at least four One Way Attack Drones at Ships transversing the Strait of Hormuz. One of the Drones solidly hit the upper deck of a large and very expensive Cargo Carrying Ship. Damage was done, but the Ship was able to proceed on its way. We knocked down three other Drones. Obviously, this is a foolish violation of our Ceasefire Agreement. President DONALD J. TRUMP
So far this morning, the market is digesting the news without much concern, with WTI oil prices remaining stable at around $70/barrel.
Action Line: Hopefully, both Iran and the United States are negotiating in good faith and peace will soon be achieved. Click here to subscribe to my free monthly Survive & Thrive letter.
