Raising The Temperature.
“Not a drop of oil will leave the Strait of Hormuz”, according to Iran on Sunday as the so-called “three-week skirmish” approached its five-month anniversary amid daily US airstrikes and zero signs of any resolution.
Stock markets around the world are still considerably higher than they were on the day the conflict formally began back on February 28th, but the oil price spiking back through $90 and the average price at the pump in the US over $4.00 again risked making for a miserable start to the week for global stocks, adding to the persistent jitters about AI overspending (funded in many…
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