Oil Spikes… Slippery Slope to War?

More on the officer who stood down during the Parkland shooting:

“Scot Peterson is a coward who should be fired and ridiculed for the rest of his miserable life.

“What about the FBI agents and the sheriff who were told multiple times the shooter was going to shoot up the school? Why aren’t charges being brought against them?

“It’s a very slippery slope we are going down when we criminalize inaction.”

That’s thought-provoking. Do you think the contributor has a point?

Our next reader believes SRO Peterson is emblematic of a bad system:

“I lived 35 years of my adult life in Broward County and, I am sorry to say, am all too familiar with the sheriff’s office. 

“The top brass are basically political hacks — mainly interested in getting re-elected or re-appointed and feathering their own nests.

“The rank and file are adept at collecting fake disability payments and doing civil asset forfeiture scams on the long-suffering taxpayers of Broward County.”

Your Rundown for Thursday, June 13, 2019:

Slippery Slope?

While Americans slept, two tankers — one Norwegian and one Japanese — were struck in Middle East waters, receiving multiple blasts from what some are calling torpedoes. The definitive cause and source? Still unconfirmed.

This is the second attack in one month on tankers in the Gulf of Oman between the coasts of U.A.E. and Iran. In May, four tankers ran afoul of magnetic mines in the same waters located close to the Strait of Hormuz.

The strait’s strategic for Middle East oil:

Bloomberg

On the news, the price of oil spiked about 4%; interesting, neither one of the damaged tankers was actually carrying oil.

As for the mine attacks in May, the U.A.E. blamed an unknown “state actor” while the U.S. and its ally Saudi Arabia blamed Iran — something Iran denies.

Today, the crews of both tankers were rescued by Iranian and U.S. ships. Awkward.

Chairman Paolo d’Amico of tanker association, Intertanko, says: “If the waters are becoming unsafe, the [oil] supply to the entire Western world could be at risk.”

Have an opinion on the anonymous “state actor”? And what’s to gain?

Market Rundown for Thurs. June 13, 2019

S&P 500 futures are up 9.5 points to 2,890.50.

Oil’s up almost $2.00 for a barrel of WTI at $53.10.

Gold’s added $2.80 to its price of $1,339.69 per ounce.

Bitcoin is down $71.77 to $8,102.36.

Have a good day. We’ll talk tomorrow.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown. Aaron’s been with Agora Financial/Seven Figure Publishing for 13 years. He's been covering technology and markets for over a decade.

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