For around six weeks these contracts have traded in a range, but this may be all about to end.

A trade is now presenting itself with great risk / reward which have potential to spike prices to new highs and a 100% profit.

Geo Political Concerns

Forget all the talk about supply and demand and inflation - Geo political reasons are the main reason crude prices are high and could spike higher.

From Iran, there were reports that Tehran wants "unconditional" talks on the incentive package western governments are offering it in an effort to persuade it to stop its uranium enrichment.

Iran's deputy foreign minister said Tehran will "very soon announce our position."

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