Oil prices closed higher yesterday but retreated from session peaks, leaving Brent back below $90/bbl by the close. Prices are trending lower in early morning trading today. There’s some hope of de-escalation between the US and Iran. Reports are that mediators are proposing a 10-day ceasefire, which could put the Memorandum of Understanding (MoU) back on track. This won’t be an easy task. Large divisions remain between the US and Iran. And President Trump said the US would retaliate following the deaths of several American troops. Additionally, the Houthis in Yemen announced a naval blockade on Saudi Arabia, putting ... (full story)