Sell CRUDE by Jul 11, 2026.

I’ve been watching the crude tape closely this week and something does not add up at all. Trump declared total victory on Iran, the market sold off the war premium in crude, everyone moved on. But Hormuz is not actually fully open. There are still idle tankers, freight costs are not normal, and Iranian barrels aren’t back on the forward curve yet. The physical market and the political narrative are in two completely different places atm. The thing that’s bugging …