UBS On-Air: Paul Donovan Daily Audio 'More misunderstandings'

US attacks on Iran follow from Iranian attacks on Strait of Hormuz shipping. It is not a great look for the memorandum of misunderstanding. Oil futures prices rose—to levels not seen for two weeks. A stronger reaction has been avoided, perhaps because of how investors view US President Trump’s political position. US retail gasoline prices remain well above pre-war levels, and it is the pre-war level that consumers think of as a “fair” price.