Sino American Trade talks buoy US markets

WTI broke below $60 today in what appears to be relief at the end of hurricane Barry’s moisture laden trip through the Gulf of Mexico where 30% of US crude is refined and lord knows how much of its petrochemical industry works. When hurricane Harvey blew through, refining and chemical supplies were severely curtailed for months raising prices across the boards. A word of caution: The Persian Gulf is a tinderbox larded with warships, B52 bombers, enough firepower to drive the price of crude to 70 is no time should a spark ignite any sort of conflagration. The US has set the trap for the Iranians. The Mullahs are too clever to fall into it. They may not however be able to avoid doing so should their calculations met the unexpected.

As light gets shed further into the venal Zuma regime’s wholesale pillaging of the South African economy, President Ramaphosa’s stock rises because it is clear that he is challenging the robber barons of his own party and going to alter the kleptocratic course set by Boss Zuma. USDZAR fell 3.07% since the hearings began. That is a gain in strength of over 3% in a matter of days.