$ProShares UltraShort Bloomberg Crude Oil(SCO)$
Why crude fell — three reinforcing drivers
US–Iran de-escalation signals (the catalyst). Iran's supreme leader reportedly granted the government negotiation authority; Iran said it could reopen the Strait of Hormuz within two days if the US accepted its terms; President Trump said a deal was "possible" and he was "in no rush" to strike.
Supply-side relief. Iraq's exports via Turkey's Ceyhan port recovered to ~500k bbl/day (vs 150–180k in August), Kuwait production hit a post-conflict high, and Saudi Aramco announced plans to expand a pipeline bypassing Hormuz
The midterm "blue wave." Democrats swept both chambers; the market priced a faster end to the Iran war (Schumer pledged to end the conflict; tighter military-spending control), extending the crude decline on Nov 4
This is a downward spiral and expect to break below $80 on WTI Crude. Good luck, Tigers.
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