In response to the US announcement to end Iranian oil waivers aimed at reducing Iran exports to zero, Saudi Arabia reportedly is ready to raise production. Oil is off by less about 50 cents from its 6-month highs (Brent high was $74.70 and US crude high reached $66.19). The DOW30 Premium trade was closed at 26580 for 300 pt gain. USD strength emerges across the board with the USD index at its highest since March 7th. US new home sales jumped 4.5% in Mar, suprising estimates for a 3% deccline. All commodities are in a slump with the exception of oil.