President Trump is considering a limited strike to persuade Iran to agree to a nuclear deal.

Marketgauge.com chief strategist Michele Schneider sits down with Morning Brief host Julie Hyman to discuss what the latest tensions with Iran mean for oil (CL=F, BZ=F) prices.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief.

feeding into this inflation story is what's going on in the commodity markets. Mish, and I want to get to that too because I know you've been watching it. Um, you know, piled into all of the other stuff affecting inflation, we now have a potential conflict with Iran to contend with and the effect that that could have on oil prices. So we've got oil prices that have now climbed over the past few sessions on concerns around that. What levels are you watching there or what what are you watching to tell us what could be happening?

Well, we have skin in in oil because it was actually starting to show firmness even before the most recent headlines about Iran. So, right now, I think $66 is a good pivotal area if you're looking at WTI oil. 61 is the ultimate support and that's where we started to buy. If it can hold on to 66, regardless of what happens in Iran, there's other issues too. The actual inventory spell as opposed to gain when people are talking surplus, we're not really seeing it. So if we get through 66, 68 to 69 was actually our June 2025 high. We get through there, people are calling for 75, 76. I think that's a fair target.