tastytrade opened the markets this morning! 🔔
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CHART OF THE DAY: On Apr 16, the IEA made a headline-grabbing warning: Europe had "maybe 6 weeks or so of jet fuel left." It's week seven; the planes are still flying. Since those headlines, European wholesale jet fuel prices have fallen ~30% to a ~3-month low.
Iran's original proposal: "The war ends, US leaves, we control Hormuz, we don't give up uranium enrichment"
Iran's new proposal: "We don't give up uranium enrichment, we control Hormuz, US leaves, the war ends."
MERCHANT VESSELS RECEIVE RADIO MESSAGE FROM IRANIAN NAVY SAYING STRAIT OF HORMUZ SHUT AGAIN, NO SHIPS ARE ALLOWED TO PASS THROUGH, SHIPPING SOURCES SAY
MULTIPLE U.S. INTELLIGENCE AGENCIES HAVE ASSESSED IN RECENT DAYS THAT THE IRANIAN GOVERNMENT IS NOT CURRENTLY WILLING TO ENGAGE IN SUBSTANTIAL NEGOTIATIONS TO END WAR- NYT
IRAN MISSILES COULD REACH EUROPE
U.S. Ambassador Michael Waltz warned Iran is developing long-range missiles capable of hitting Europe, possibly hidden within its “space program.”
He said the real risk is combining that capability with a nuclear warhead—and stressed the U.S. is acting before it happens.
Waltz also reiterated President Trump’s warning: reopen the Strait of Hormuz within 48 hours or face strikes on major power infrastructure.