BZ1!111.70Brent rose 6% this week as renewed attacks on Saudi energy infrastructure and shipping raised supply risks. Russian diesel is heading to the U.S. and Germany has offered strategic stocks for sale, but high freight costs and ship-to-ship transfers are keeping delivered fuel expensive.

BZ is dangerously close to our 120 level. A break above it unleashes the Kraken. Trump has his eye on CL1!103.27, but it trades more than $10/barrel below Brent. Either he pulls off some kind of TACO in the next two weeks, or we see some of the biggest spikes in oil futures prices.