As a subscriber, I just read that before finding your post.  What the writer missed was the fact that Iran is making a big noise about attacking Israel for killing one of their generals in a third country.  I'd like to believe the spike came from a fundamental issue, such as the public and money managers realizing the news about the PPI was fake, but rumors of war almost always override such things.

Will there be war?  I think not.  Iran will make some attack on Israel.  Ib will not be significant, and Israel will not respond, so it will be over until the next incident.  ...my opinion, anyway.