“There was a theme that Iran is improving the accuracy and lethality of its missiles,” said Congressional Research Service Iran analyst Kenneth Katzman. “U.S. government reports have previously always downplayed the accuracy and effectiveness of Iran’s missile forces.” “The report seemed pretty sober and respectful of Iran’s capabilities, crediting Iran with improving survivability”.As ominous is the deployment of a third carrier underway for over a week in the Pacific headed for the Persian Gulf.Speculative longs in crude oil are no where near excessive.A reminder about oil role in China’s commodity consumption. A buyer at the margin but only 10% of global demand. This needs to be put in perspective.
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