The oil that was threatening to reignite inflation has just collapsed by more than 10% in a single day.🚨
Brent fell from nearly $98 to $88.4. This comes after a month in which the price had already risen by almost 40%, as the war spread from the Strait of Hormuz to the Red Sea—a new front that wasn’t even on the radar until not long ago.
The trigger for the drop was news that Pakistan, with support from China, is trying to revive negotiations between the US and Iran, even as the US completes its thirteenth straight night of strikes on Iran.
Volatility seems likely to rise during this week. Be prepared.
Brent fell from nearly $98 to $88.4. This comes after a month in which the price had already risen by almost 40%, as the war spread from the Strait of Hormuz to the Red Sea—a new front that wasn’t even on the radar until not long ago.
The trigger for the drop was news that Pakistan, with support from China, is trying to revive negotiations between the US and Iran, even as the US completes its thirteenth straight night of strikes on Iran.
Volatility seems likely to rise during this week. Be prepared.