{"id":64294,"date":"2026-04-30T10:13:58","date_gmt":"2026-04-30T10:13:58","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=64294"},"modified":"2026-04-30T10:13:58","modified_gmt":"2026-04-30T10:13:58","slug":"crude-up-gold-down","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/","title":{"rendered":"Crude Up, Gold Down"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>President Trump rejects Iran&#8217;s proposal to reopen the Strait and discusses an extended US naval blockade.<\/li>\n<li>Brent crude futures (June&#8217;26) jump to more than $120 per barrel.<\/li>\n<li>The Fed kept interest rates on hold in Jerome Powell&#8217;s last FOMC meeting as Fed Chair.<\/li>\n<li>Powell says he will stay on as governor for &#8220;an undetermined period of time.&#8221;<\/li>\n<\/ul>\n<hr \/>\n<p>During a Tuesday meeting with oil executives, President Trump rejected Iran&#8217;s proposal to reopen the Strait and discussed extending the US naval blockade. (<a href=\"https:\/\/ground.news\/article\/oil-prices-surge-to-highest-level-since-2022-as-trump-mulls-iran-blockade-extension_0e8dbf\">GroundNews<\/a>)<\/p>\n<blockquote><p>WASHINGTON, April 29 (<a href=\"https:\/\/www.reuters.com\/business\/energy\/trump-met-with-chevron-other-energy-companies-tuesday-2026-04-29\/\">Reuters<\/a>) &#8211; U.S. President Donald Trump met with top officials from Chevron (CVX.N) and other energy companies on Tuesday to talk about possible steps to calm oil markets if the blockade of Iranian ports continues for months, a White House official said on Wednesday.<\/p>\n<p>The talks focused on U.S. oil production, oil futures, \u200bshipping and natural gas, the official said.<\/p>\n<p>&#8220;They discussed the steps President Trump has taken to alleviate global oil markets \u200band steps we could take to continue the current blockade for months if needed and minimize \u2060impact on American consumers,&#8221; the White House official said.<\/p><\/blockquote>\n<p>Talk of an extended blockade and a sharp fall in US inventories drove June&#8217;26 Brent crude futures to above $120 per barrel.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png?resize=525%2C306&#038;ssl=1\" alt=\"Brent Crude Futures (ICE June'26)\" width=\"525\" height=\"306\" \/><\/p>\n<p>The EIA report for the week ended April 26 showed an accelerating decline in crude inventories, including the Strategic Petroleum Reserve (SPR).<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-eia-inventory.png?resize=525%2C394&#038;ssl=1\" alt=\"EIA Crude Inventory (incl. SPR)\" width=\"525\" height=\"394\" \/><\/p>\n<p>The inventory chart above includes the SPR, shown separately below.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-eia-spr.png?resize=525%2C394&#038;ssl=1\" alt=\"EIA Crude Inventory (incl. SPR)\" width=\"525\" height=\"394\" \/><\/p>\n<h2>No Change at the Fed<\/h2>\n<p>The Fed left its target range for the funds rate unchanged at 3.5%-3.75% for the third consecutive meeting. There were four dissenting votes on the FOMC, with three opposing language that signaled possible future rate cuts, while Trump appointee Stephen Miran called for an immediate reduction. (<a href=\"https:\/\/www.euronews.com\/business\/2026\/04\/29\/us-federal-reserve-holds-rates-as-jerome-powell-signals-he-will-stay-on\">AP\/EuroNews<\/a>)<\/p>\n<p>Jerome Powell&#8217;s term as Chair ends on May 15, with his nominated successor, Kevin Warsh, likely to be sworn in before the next meeting, following approval by the Senate Banking Committee.<\/p>\n<p>Powell indicated that he intends to remain on the Federal Reserve&#8217;s governing board for &#8220;an undetermined period of time&#8221;, citing concerns about what he described as &#8220;unprecedented&#8221; legal attacks by the Trump administration on the central bank.<\/p>\n<p>Mr Powell said he would wait for the conclusion of an investigation into the Fed&#8217;s building renovations before stepping down fully.<\/p>\n<p>&#8220;I&#8217;m waiting for the investigation to be well and truly over, with finality and transparency,&#8221; he said. &#8220;I will leave when I think it appropriate to do so.&#8221; His term as governor expires in January 2028.<\/p>\n<p>Powell&#8217;s decision to stay on forces the resignation of Stephen Miran, a temporary Trump appointee, to make way for the appointment of Warsh as governor. The move denies President Trump the opportunity to nominate a replacement, which would give him greater influence over Fed monetary policy.<\/p>\n<p>Long-term Treasury yields are rising in response to higher oil prices and the improved prospect of an independent Fed. 10-Year yields are expected to test resistance at 4.5%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-tnx.png?resize=525%2C404&#038;ssl=1\" alt=\"10-Year Treasury Yield\" width=\"525\" height=\"404\" \/><\/p>\n<p>We expect the S&amp;P 500 to retrace to test new support at 7000 as a looming global oil shortage overshadows robust quarterly earnings.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-spx.png?resize=525%2C404&#038;ssl=1\" alt=\"S&amp;P 500\" width=\"525\" height=\"404\" \/><\/p>\n<p>The Dow Jones Industrial Average retreated below short-term support at 49K, suggesting another correction.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-dow.png?resize=525%2C404&#038;ssl=1\" alt=\"Dow Jones Industrial Average\" width=\"525\" height=\"404\" \/><\/p>\n<p>Gold found support at $4,500 per ounce, but the rally may be short-lived if oil prices keep rising.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-29-gold.png?resize=525%2C404&#038;ssl=1\" alt=\"Spot Gold\" width=\"525\" height=\"404\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>An early reopening of the Strait of Hormuz is unlikely. We expect a prolonged closure, with shortages driving crude oil prices to between $140 and $150 per barrel by the end of May.<\/p>\n<p>Higher crude prices increase upward pressure on long-term Treasury yields, which would be bearish for stocks.<\/p>\n<p>We also expect Gold to test support at $4,000 per ounce as Gulf states and major oil importers draw on their reserves.<\/p>\n<h4>Acknowledgments<\/h4>\n<ul>\n<li>CNBC: <a href=\"https:\/\/www.cnbc.com\/quotes\/@LCO.1\">Brent Crude ICE May&#8217;26 Futures<\/a><\/li>\n<li>EIA: <a href=\"https:\/\/www.eia.gov\/dnav\/pet\/pet_stoc_wstk_dcu_nus_w.htm\">US Crude Oil Inventories<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Points President Trump rejects Iran&#8217;s proposal to reopen the Strait and discusses an extended US naval blockade. Brent crude futures (June&#8217;26) jump to more than $120 per barrel. The Fed kept interest rates on hold in Jerome Powell&#8217;s last FOMC meeting as Fed Chair. Powell says he will stay on as governor for &#8220;an &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Crude Up, Gold Down&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,44,9,34],"tags":[69,7256,1113,7282,4922,3977,7143,3010,3204,7281,7171,5632,7283],"class_list":["post-64294","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-crude-oil-natural-gas","category-gold-precious-metals","category-us-canada-countries-regions","tag-10-year-treasury-yield","tag-brent-crude-futures-ice-june26","tag-dow-jones-industrial-average","tag-fed-chair","tag-fed-independence","tag-jerome-powell","tag-kevin-warsh","tag-sp-500","tag-spot-gold","tag-stephen-miran","tag-strait-of-hormuz","tag-strategic-petroleum-reserve-spr","tag-us-blockade-of-iran"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crude Up, Gold Down - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude Up, Gold Down - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points President Trump rejects Iran&#8217;s proposal to reopen the Strait and discusses an extended US naval blockade. Brent crude futures (June&#8217;26) jump to more than $120 per barrel. The Fed kept interest rates on hold in Jerome Powell&#8217;s last FOMC meeting as Fed Chair. Powell says he will stay on as governor for &#8220;an &hellip; Continue reading &quot;Crude Up, Gold Down&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-30T10:13:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Crude Up, Gold Down\",\"datePublished\":\"2026-04-30T10:13:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/\"},\"wordCount\":625,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-04-29-brent2.png\",\"keywords\":[\"10-Year Treasury Yield\",\"Brent Crude Futures (ICE June'26)\",\"Dow Jones Industrial Average\",\"Fed Chair\",\"Fed Independence\",\"Jerome Powell\",\"Kevin Warsh\",\"S&amp;P 500\",\"Spot Gold\",\"Stephen Miran\",\"Strait of Hormuz\",\"Strategic Petroleum Reserve (SPR)\",\"US Blockade of Iran\"],\"articleSection\":[\"Banks &amp; Interest Rates\",\"Crude Oil &amp; Natural Gas\",\"Gold &amp; Precious Metals\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/\",\"name\":\"Crude Up, Gold Down - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-04-29-brent2.png\",\"datePublished\":\"2026-04-30T10:13:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-04-29-brent2.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-04-29-brent2.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/04\\\/30\\\/crude-up-gold-down\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crude Up, Gold Down\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/people\\\/The-Patient-Investor\\\/61572934660810\\\/\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\",\"https:\\\/\\\/au.linkedin.com\\\/in\\\/colintwiggs\"],\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/investor\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crude Up, Gold Down - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Crude Up, Gold Down - the patient investor","og_description":"Key Points President Trump rejects Iran&#8217;s proposal to reopen the Strait and discusses an extended US naval blockade. Brent crude futures (June&#8217;26) jump to more than $120 per barrel. The Fed kept interest rates on hold in Jerome Powell&#8217;s last FOMC meeting as Fed Chair. Powell says he will stay on as governor for &#8220;an &hellip; Continue reading \"Crude Up, Gold Down\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2026-04-30T10:13:58+00:00","og_image":[{"url":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"Crude Up, Gold Down","datePublished":"2026-04-30T10:13:58+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/"},"wordCount":625,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png","keywords":["10-Year Treasury Yield","Brent Crude Futures (ICE June'26)","Dow Jones Industrial Average","Fed Chair","Fed Independence","Jerome Powell","Kevin Warsh","S&amp;P 500","Spot Gold","Stephen Miran","Strait of Hormuz","Strategic Petroleum Reserve (SPR)","US Blockade of Iran"],"articleSection":["Banks &amp; Interest Rates","Crude Oil &amp; Natural Gas","Gold &amp; Precious Metals","US &amp; Canada"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/","name":"Crude Up, Gold Down - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png","datePublished":"2026-04-30T10:13:58+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-04-29-brent2.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/30\/crude-up-gold-down\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Crude Up, Gold Down"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454","name":"Colin Twiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","caption":"Colin Twiggs"},"description":"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-gJ0","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":64088,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/12\/blockade\/","url_meta":{"origin":64294,"position":0},"title":"Blockade","author":"Colin Twiggs","date":"April 12, 2026","format":false,"excerpt":"Key Points President Donald Trump announced a US blockade on Iranian shipments through the Strait of Hormuz. Closure of the Strait will restrict 20% of the global oil supply.","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Brent Crude & CPI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-10-brent-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-10-brent-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-10-brent-cpi.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":64090,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/14\/dire-straits\/","url_meta":{"origin":64294,"position":1},"title":"Dire Straits","author":"Colin Twiggs","date":"April 14, 2026","format":false,"excerpt":"Key Points Brent crude futures are trading below $100 per barrel, as President Trump says Iran wants to \"work a deal.\" However, the physical market shows signs of distress, with Forties Blend close to $149 per barrel on Monday. The \"genie is out of the bottle,\" and the Gulf states\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Prof. Robert Pape on X","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-13-pape.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-13-pape.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-13-pape.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":64263,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/27\/crude-rises-as-peace-talks-stall\/","url_meta":{"origin":64294,"position":2},"title":"Crude Rises as Peace Talks Stall","author":"Colin Twiggs","date":"April 27, 2026","format":false,"excerpt":"Key Points Brent crude futures rise to $107.88 per barrel at 8:40 am BST. Iran's Parliament Speaker Ghalibaf has withdrawn from the negotiating team. President Trump calls off negotiations with Iran. The US blockade is \"going global,\" according to Secretary of War Pete Hegseth.","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Brent Crude Futures (ICE June'26)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-27-brent-jun26.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-27-brent-jun26.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-27-brent-jun26.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63862,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/03\/13\/a-gas-station-masquerading-as-an-islamic-republic\/","url_meta":{"origin":64294,"position":3},"title":"A &#8216;Gas Station masquerading as an Islamic Republic&#8217;","author":"Colin Twiggs","date":"March 13, 2026","format":false,"excerpt":"Key Points Brent crude futures rose to $103.91 per barrel. A US-owned tanker is ablaze in an Iraqi seaport after an attack by two explosive-laden unmanned boats. The US should consider a total blockade of Iranian crude oil exports to accelerate the regime's collapse, says Robin Brooks. Brent crude (ICE\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-13-brent.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-13-brent.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-13-brent.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":64109,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/04\/16\/more-noise-no-signal\/","url_meta":{"origin":64294,"position":4},"title":"More Noise, No Signal","author":"Colin Twiggs","date":"April 16, 2026","format":false,"excerpt":"Key Points Following the breakdown of ceasefire talks, President Trump initiated a naval blockade on Monday to pressure Iran to restore access to the Strait of Hormuz. Central Command reported that nine oil tankers from Iran followed orders to turn around since the blockade began. On Wednesday, Iran's military threatened\u2026","rel":"","context":"In &quot;Middle East&quot;","block_context":{"text":"Middle East","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/middle-east\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-15-brent2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-15-brent2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-04-15-brent2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63959,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/03\/26\/why-crude-prices-are-hurting-gold\/","url_meta":{"origin":64294,"position":5},"title":"Why Crude Prices are Hurting Gold","author":"Colin Twiggs","date":"March 26, 2026","format":false,"excerpt":"Key Points Iran rejects the US ceasefire proposal and makes counterdemands that are unlikely to be accepted. Brent crude futures (May'26) increased to $104.26 per barrel. Gold continues to test support at $4,400 per ounce. High crude prices are driving gold lower, reversing the typical relationship where gold and oil\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Brent Crude Futures (ICE May'26)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-25-brent2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-25-brent2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-03-25-brent2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=64294"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64294\/revisions"}],"predecessor-version":[{"id":64295,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64294\/revisions\/64295"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=64294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=64294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=64294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}