The economic impact of yesterday's failed US - Iran talks is beginning to hit markets.
The Hyper-Liquid price for a barrel of oil has hit $127 and is still climbing.
Admittedly, this "Hyperliquid" is akin the the "Dated Brent" price for immediate delivery, which is far different than the "futures" market prices, but the trajectory was what I warned about in my story last night (Here).
When markets open here in the US tonight around 6:00 PM eastern time, the real fallout will begin to be visible to everyone.
While I HOPE I am wrong, I expect gasoline prices to rocket into the $5, $6, $7 per gallon range and I expect Diesel Fuel to jump into the $8, $9, $10 gallon range rather quickly.
If I am right - and it is a big "if" - the prices of FOOD will also skyrocket because all of it must move by truck.
I earnestly hope you folks took my long-standing and often-repeated advice to stock up on food. If you haven't yet, you still have today.
