Commenatry From the Trading Desk at Stipelis Monday, April 20, 2026

Markets opened the week cautiously after fresh MiddleEast headlines. Oil and volatility moved higher, while equities and the dollarsoftened. This week’s data may help separate headline risk from underlyingeconomic momentum.The opinionsexpressed are those of Stipelis Global Trading LLC and are considered marketcommentary. They are not intended to act as investment recommendations.Individuals should make investment decisions based on their own analysis andwith direct consultation with a financial advisor. Stipelis GlobalTrading LLC is registered with the Commodity Futures Trading Commission and isa member of the National Futures Association. Member ID 0474441 THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.