US EditionOil Surges, Stocks Drop as Trump Threatens to Block Hormuz
Oil jumped about 8% and stocks fell as the blockade threatened flows through a route carrying one-fifth of the world’s oil and gas, analysts said.
- On Monday, President Donald Trump announced the United States will implement a blockade of all maritime traffic entering or exiting Iranian ports, starting at 10 a.m. ET.
- The escalation follows the collapse of weekend US-Iran peace talks in Pakistan, which ended without a deal and undermined hopes for a ceasefire-driven market recovery.
- Brent North Sea Crude jumped 8% to just under $103 a barrel on supply concerns, while global stock markets broadly fell amid sudden geopolitical tensions.
- Iran stated it "won't allow" the blockade, while US Central Command confirmed it will interdict vessels paying tolls to Tehran, maintaining freedom of navigation for non-Iranian traffic.
- Analysts warn prolonged energy supply disruptions could stymie international growth and stoke inflationary pressures as investors face uncertainty with first-quarter earnings season beginning.
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Why Markets Are Shrugging Off Trump's Hormuz Blockade
Key PointsStocks were down in futures trading on the blockade before turning positive this afternoon.Software stocks soared, a sign investors could be looking to capitalize on beaten-down stocks.Investors seem to believe that the worst-case scenarios from the war are now behind us. 10 stocks we like better than iShares Trust - iShares Expanded Tech-Software Sector ETF › Over the weekend, negotiations between the U.S. and Iran to end the war in I…
The S&P Sells Off on Trump's 'Uno Reverse' Strategy With Hormuz and Oil Soars Over $100
The post The S&P Sells Off on Trump’s ‘Uno Reverse’ Strategy With Hormuz and Oil Soars Over $100 appeared first on 24/7 Wall St.. Quick Read S&P 500 (SPY) opened Monday down 0.6% after President Trump ordered a naval blockade of the Strait of Hormuz, sending crude oil surging above $100 a barrel and reaching $114 per barrel—its 99th percentile of the 12-month range—as global shippers refuse transit without safety guarantees from both sides. E…
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Oil surges, stocks drop as Trump threatens to block Hormuz
Oil prices surged and stock markets broadly fell Monday after US-Iran peace talks broke down and President Donald Trump announced a plan to block the strategic Strait of Hormuz, ratcheting up fears for Middle East energy supplies.
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