CRUDE WRAP: WTI (Q6) SETTLES USD 1.44 LOWER AT 72.08/BBL; BRENT (U6) SETTLES USD 1.72 LOWER AT 76.30/BBL

The crude complex was lower, and ultimately weighed by Trump's more positive remarks in the European morning. Overnight, the US struck around 90 Iranian military targets, and in return, the IRGC said it attacked two US bases in Bahrain and two in Kuwait. Further attacks were reported throughout the day from both sides, as Iranian media noted of a projectile at Iran’s Bushehr Nuclear Power Plant, while Jordan intercepted an Iranian missile which entered their airspace. Elsewhere, CNN reported that Trump is losing patience with the pace of negotiations, particularly on nuclear. However, despite the further attacks, sentiment took its cue from the US President stating that Iran called a while ago, and they want to make a deal. Thereafter, benchmarks were sold throughout the US session as the IRGC said, "If the US army repeats its aggression, other US bases in the region will not be safe from our heavy fire." Pressure in crude benchmarks was attributed to the statement threatening military bases, but not energy infrastructure. As such, and as expected, attention moves to any new attacks or further escalations overnight, as most recent reporting suggested the US has launched another wave of attacks on Iran with explosions heard across the South, seeing crude settle slightly off lows. For the record, WTI traded between USD 71.42-75.13/bbl and Brent USD 75.58-79.25/bbl.