Shippers Face Deepening Dilemma as U.S. and Iran Vie for Control of Persian Gulf
Stock futures fell as traders weighed renewed U.S.-Iran strikes and a disputed Strait of Hormuz closure, while Brent crude rose 3.8%, analysts said.
- On Saturday, President Donald Trump ordered airstrikes against Iran following an attack on a commercial ship transiting the Strait, while Tehran claimed the waterway was closed.
- Crude prices surged in early trading as regional tensions escalated, with Brent futures climbing 3.8% to $78.92 per barrel and West Texas Intermediate advancing more than 3% to $74.13.
- Stock futures fell slightly on Sunday night as traders weighed Middle East developments; Ben Emons, founder of Fed Watch Advisors, warned, "The Strait closure will hang over the market."
- Markets brace for a heavy week of economic data and earnings, with 28 S&P 500 companies reporting this week and the June CPI report due Tuesday morning.
- Amid geopolitical uncertainty, tech earnings remain a focus for investors, with Raymond James CIO Larry Adam noting, "Mentions of AI across all 11 sectors are up 98% YoY.
29 Articles
29 Articles
Oil prices are on the march once again after the U.S-Iran conflict intensifies—it's yet another headache for Warsh and the Fed
Wall Street is looking nervously at the Middle East this week, after the conflict between the U.S. and Iran escalated over the weekend. At the time of writing, Brent crude is back up to $78 a barrel, meaningfully above its pre-war level of a little under $70. This has a knock-on effect for inflation expectations and, as a result, the trajectory of the U.S. Federal Reserve’s base interest rate, Goldman Sachs wrote in a note published Sunday.Over …
How much have oil prices risen since the latest attacks in the Middle East? Oil prices rose sharply on Monday, July 13, after the US and Iran exchanged further strikes overnight, threatening energy supplies through the Strait of Hormuz. This was reported by RBC-Ukraine, citing CNN and Reuters. Brent crude futures rose 3.92% to $78.99 per barrel, while US West Texas Intermediate crude rose 3.44% to $73.87 per barrel. What preceded this As a remin…
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