TACO Tuesdays

Oil is significantly lower from Monday’s highs and equities have rebounded on discussions that G7 countries may release oil from their Strategic Petroleum reserves, and also a quote from Donald Trump:

CBS reporter on X: "NEW—In a phone interview, President Trump told me the war could be over soon: “I think the war is very complete, pretty much. They have no navy, no communications, they’ve got no Air Force.” He added that the U.S. is “very far” ahead of his initial 4-5 week estimated time frame."

The wild swings in oil of $30 from high to low illustrate how small shifts in the probability of outcomes can move markets.