There is no peace agreement

is there really a peace agreement between Iran and the US? Probably not. They are talking, which is good, of course, but, there is no agreement, nothing even close. Iran retains full control of the Strait of Hormuz, there is no systematic clearing of mines or increase in traffic, nor is one foreseen in the near future. What we have, really, is an agreement to continue talking, nothing more. Which is fine, but, it has nothing to do with the fact that the world's strategic oil reserves are rapidly approaching empty, with no relief in sight. As usual, Donald Trump is using his sales skills to systematically manipulate markets -- something his supporters in MAGA love, of course, but which the rest of us, rather more interested in reality, find rather irritating. Because, you know, reality does have a habit of catching up to you. And, then you do have to deal with it. Trump and his MAGA friends think they can outrun the real world, but, never for long, really. And, never, forever. A spectacular rise in oil prices remains rather likely this year, and a corresponding collapse in the markets.