Early on October 19, a sudden explosion in the Strait of Hormuz threw global asset prices into turmoil!!!
Oil prices plunged, then markets were jolted: International oil prices briefly tanked at the opening. U.S. crude fell below $99 a barrel, and Brent followed. But the market had barely had time to react. In the early hours that day, an oil tanker violating regulations struck a mine and caught fire in the Strait of Hormuz. When something happens at this vital chokepoint, shipping and insurance costs skyrocket
Gold and silver rally as safe havens: With crude in turmoil, investors rushed to buy precious metals. Spot gold and silver both rose. Bitcoin also gained 0.45%. The crypto market, however, was hit hard: more than 90,000 traders were liquidated in a single day, with $260 million in positions forcibly closed
Tensions in the Middle East are adding fuel to the fire: The Houthis just claimed that Saudi Arabia bombed them 110 times in one day. Meanwhile, air raid sirens sounded in the Ukrainian capital, Kyiv, in the middle of the night. Ukrainian forces also used drones to strike a Russian oil terminal
Most alarming of all, Western countries' inventories have already run dry. One executive warned that if shipping through the Strait of Hormuz were completely halted, oil prices could really surge to $200#XAU $XAU
Oil prices plunged, then markets were jolted: International oil prices briefly tanked at the opening. U.S. crude fell below $99 a barrel, and Brent followed. But the market had barely had time to react. In the early hours that day, an oil tanker violating regulations struck a mine and caught fire in the Strait of Hormuz. When something happens at this vital chokepoint, shipping and insurance costs skyrocket
Gold and silver rally as safe havens: With crude in turmoil, investors rushed to buy precious metals. Spot gold and silver both rose. Bitcoin also gained 0.45%. The crypto market, however, was hit hard: more than 90,000 traders were liquidated in a single day, with $260 million in positions forcibly closed
Tensions in the Middle East are adding fuel to the fire: The Houthis just claimed that Saudi Arabia bombed them 110 times in one day. Meanwhile, air raid sirens sounded in the Ukrainian capital, Kyiv, in the middle of the night. Ukrainian forces also used drones to strike a Russian oil terminal
Most alarming of all, Western countries' inventories have already run dry. One executive warned that if shipping through the Strait of Hormuz were completely halted, oil prices could really surge to $200#XAU $XAU
