The Pentagon says the US has not seen a direct order from Iran for its proxies to increase attacks against US troops in the Middle East.
I think this is an important headline because it argues against the fears of a broader regional war involving Iran. Or at least it shows that the US isn't beating that war drum.
Oil is down $1.68 to $86.41 today and that looks like the right trade. We're far from out of the woods in terms of a bigger conflict as the incursion into Gaza hasn't even started but this raises the odds that it's limited to areas bordering Israel.
Oil daily
