SP, page-108

I am looking at a few markets for reaction and it looks mixed at the moment.

Chinese equity markets HK and mainland) seems to react much more negatively than the US. I saw a chart that had US producing 17% while China only 4% of global output so for starters China is much more dependent on Oil imports form ME so input costs will go up. The safe haven seems to be DXY while gold is not catching much of a bid.

Obviously if this continues from an uncertain prospective that Saudi cannot mitigate more drone attacks, oil prices will be elevated and in a slow global growth, it will impact steel production as a guess.

Too early to tell since the tanker bombings didn't support a sustainable elevation to oil prices. In addition it was the trade tension/war/tariff that was the main kicker of Chinese economic numbers balanced by the Brazilian spillage. Looking at the Dalian IO chart, I am seeing weakness as good buying opportunities so far.