Oil prices are higher again as Donald Trump warns Iran about killing anti-regime protesters. Rumours circulated last night about sorties by US forces in the Straits of Hormuz ,a cricial water way for oil tankers. I note that China was thought likley to try and switch to Iranian crude if it’s excluded fronm Venezuelan supplies. Trump has also been cracking down on Russian oil sales and its so-called shadow fleet which coud also tighten crude supplies near term.