Trump's Market Moves Backfire as Iran War Drives Oil Up 69%
Key Takeaways
- Trump's market-movement attempts are falling flat as Iran war drags on.
- Oil remains central to U.S. strategy amid expanding conflict in Iran.
- Trump indicates negotiations with Iran; Iran denies talks, shaping market expectations.
Oil Surges Amid War
Global oil prices surged nearly 69% since the US-Israeli invasion of Iran.
Brent crude oil reached a 14-year high at $122.67 per barrel.
US 10-year Treasury rates rose above 4.3%, the highest since 2007.
Consumer Confidence Slumps
Consumer sentiment fell to a three-month low at 53.3.
The S&P 500 declined 7.4% over the past month.
Consumer inflation expectations rose to 3.8%.
Global Trade at Risk
The Strait of Hormuz carries about 20-30% of global seaborne oil trade.
“Lessons from History: Could the Iran War Be the New Suez Crisis”
Iran declared the Strait closed after Israeli strikes on Kharg Island.
Shipping firms warned reopening the route is unlikely for weeks.
Regional Leaders Urge Peace
Egyptian President Sisi urged Trump to halt the war.
Pakistan, Egypt, Saudi Arabia, and Turkey met to discuss reopening the Strait of Hormuz.
The conflict risks escalating beyond the Gulf.
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