Eric Bolling

It seems like our outcome isn't worth the risk.

up crude.

West Texas Intermediate is basically flat, trading $103, $104 a barrel, which is where it was not at the close yesterday.

It was 101 at the close yesterday.

It ran up after the close because of Russia saying they may force measure oil.

So it was at 104 after, like in the

European trading or Asian trading.

This morning, it opened up about the same price, but Brent jumped up $5 a barrel, the Brent that a lot of the Middle Eastern crudes are tied to price-wise.

So that jumped up.

So no one in the oil trading community is ready to say all clear yet.

The equity market has a different thought.

They love to hear what they heard, and equities are up today substantially, 400, 500 points in the Dow, but the oil guys are not buying it.

You're 100% right, beyond 100%, because for the better part of the last four weeks since we've been at this, Trump would come out and say they're about to relent or the negotiations are going well.

Oil would be down $15 a barrel, $10 a barrel.

This is a time where Trump is saying we've got them where we want them, and the oil market this time said, you know what?

We're seeing something different in the actual physical oil market, and they're pushing the prices up.

And they're going to wait for the real all clear, not the rhetorical all clear.

A hundred percent.

So this is the first time that, so Trump, over the past four weeks, Trump would come out and say something very positive.

In other words, positive for some sort of solution, oil would go down.