From Christopher Alessi and Alison Sider, WSJ, here…
”The victory of Venezuela’s far-left president, Nicolás Maduro, on Sunday in a race that was called illegitimate by the opposition and foreign governments paves the way for the imposition of stricter international sanctions, including potential new U.S. measures targeting the country’s already-hindered oil industry.”
”Venezuelan crude output fell 50,000 barrels a day month-on-month in April, to stand at 1.42 million barrels a day, according to the International Energy Agency’s latest monthly oil market report.”
”Also lifting prices Monday, Secretary of State Mike Pompeo spelled out what the Trump administration is demanding in any new nuclear agreement with Iran. Mr. Pompeo said the administration won’t try to renegotiate the old deal, and outlined 12 requirements for a new one—toughening the nuclear demands and calling for a major overhaul of Iran’s military role in the region.”
Front month implied vol is only 23.6%, compared to a long term average of around 33…
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