• On US escorts in Strait of Hormuz: We would do it if we needed to
• Hopefully, things are going to go very well
• We’re going to see what happens

Trump is clearly vowing to escalate the war further here which should keep the markets in defensive mode, especially heading into the weekend.

Oil made headlines on Monday for the biggest one-day gain in six years following negative events over the weekend. The probabilities that it happens again are low, but I would still be cautious being short oil over the weekend.

As of now, there’s no end in sight, so being short risk or at least neutral, look like the only reasonable plays.