Markets are reacting as the U.S.–Israel–Iran conflict enters its seventh day. Oil prices climbed to about $89 per barrel, the highest level since April 2024, as investors watch developments around the Strait of Hormuz, a shipping route responsible for roughly 20% of global crude supply. Several major developments have been reported in the region. Strikes were reported in Tehran.
Drones targeting a U.S. air base in Qatar were intercepted.
Saudi Arabia also reported intercepting drones near Riyadh.
Iran warned it could launch attacks in Iraq’s Kurdistan region. The geopolitical tension is already showing up in financial markets. Over the past five days the Dow has fallen 2.6%, while major indexes across Europe and Asia have also declined. Some analysts say the market volatility may represent a temporary geopolitical risk premium rather than a long-term breakdown in markets. For now, investors appear to be taking a wait-and-see approach. #OilPrices #IranConflict #StockMarket #Geopolitics ...