It has been another weekend of bombings, accusations, and what passes for commentary out of the Middle East. Oil prices opened the day higher because the bombing over the weekend was heavy, then somebody uttered the words “negotiator” and “ceasefire,” and the crude market promptly sold off on the idea that everyone is behaving themselves and the Iranians are headed back to the table.
We whipped them. It is all going to be great.
Except the Houthis have now decided to close their side of the Red Sea and deny passage to the Saudis.
This is not over.
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