A few days ago, I started building a NO position on the "Bab el-Mandeb Strait effectively closed" market using the
@arespro terminal.
The latest news indicates that my view is proving to be correct and the US has refused to enter the conflict on the Saudis' side, as Trump really doesn't want to get dragged into another adventure ahead of the midterm elections.
The market is trading at 82c on NO and will likely drop even lower soon, as the market is being held up by just a couple of delusional degens.