Oil proves that it is a risk asset after all
WTI pretty much surrenders most of its gains on the day, now only up by 0.26% at $64.47 after trading near $65 levels earlier as mentioned here.
It got a boost after Trump appointed John Bolton as national security adviser, which the market interpreted as an increased chance of the US leaving the Iran nuclear deal - meaning sanctions would be reimposed on Iran.
But at the end of the day, the natural order of things appears to be catching up and as equities and all other riskies suffer on the day, oil is being dragged lower as well.
