"We are in the headline-watching business at the moment, with competing stories shifting market sentiment an hourly basis yesterday. From a market perspective, the main issue is that there's no sign of either side de-escalating, and if anything, it looks as though things are still ratcheting up."
"This could present a scenario three times the severity of the Arab oil embargo and Iranian revolution in the 1970s, and drive oil prices into the triple digits, while LNG prices retest the record highs of 2022."
"We haven't even started hitting them hard. The big wave hasn't even happened. The big one is coming soon."
Markets show mixed performance with the S&P 500 up 0.04%, NASDAQ up 0.08%, while the Dow and SPY decline slightly. Oil rises to $74.68, gold gains $50 to $5,162, and Bitcoin surpasses $71,000 amid stablecoin regulation optimism. Geopolitical tensions dominate market sentiment, with analysts noting no signs of de-escalation. The Strait of Hormuz, critical for 13 million barrels of daily oil transit, faces potential disruption. Experts warn oil could reach $100 per barrel if shipping halts, representing a scenario three times more severe than 1970s oil embargoes. Energy sector volatility remains elevated as tensions continue escalating.
Read at 24/7 Wall St.
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