$CL $BZ stabilized and pulled back from the highs. Historical Context: The 2019 Houthi attacks on Saudi oil facilities caused a 20% spike, but prices retreated within weeks. Similarly, the 2003 Iraq War saw oil prices rise 25% pre-invasion, only to normalize w/i 2 months.

Difficult week as most of my bets went the wrong way. The strategy was down 0.9% for the week, and up 1.35% since the start

Saudi Arabia, leading OPEC+, shifts from output cuts to increasing oil production by nearly 1 million barrels per day between April and June 2025, despite global economic slowdown fears. The oil futures curve has formed a rare "smile" shape

Excellent start with portfolio up almost 2% for the week 🦾Unfortunately on Monday I forgot to post opening prices, but you can verify them on independently on any data provider from Yahoo! finance to Bloomberg ☺️

China and other nations cancel US agricultural export orders in response to new US tariffs. Canceled US orders shift demand to Brazil -> bullish $BRL Lower US rail freight volumes -> short US freight rail stocks (e.g. $UNP) or pairs trade vs. long $CNR (Canada)

Stellantis, Mercedes-Benz, & Polestar have withdrawn their 2025 fin. forecasts over US tariff uncertainty. Autos use ~80 lbs of copper per vehicle, and production cuts reduce copper demand. Chile, a top copper exporter, sees export revenue drop, weakening the Chilean peso #CLPUSD