Oil Takes a Wild Spin After Iran’s Third Night of Bombing
When those striking planes hit three Iranian nuclear sites last night, the world’s oil markets didn’t just feel the tremor—they got a full-on rocket launch. Prices have surged to the highest level in nearly six months, leaving traders rubbing their eyes in disbelief.
Brent Crude Soars to $78
In the early Monday trade, Brent crude jumped into the $78 range. “We’re all on edge,” market watchers say, fearing what Iran might do next in this high‑stakes retaliation game.
FTSE 100 Holds Its Own, But with a Nod to the Big Players
- BP shares surged +1.1%
- Shell’s stock climbed +0.8%
- Overall FTSE 100 ticked up +2.9 points to 8,777.6
What the Strait of Hormuz Means for Markets
Joachim Klement, analyst at Panmure Liberum, warns that if the Hormuz waterway shuts down, “we could see a major stag‑flation shock just like 2022.” He adds that a 10‑20% market correction is likely, and a fresh bear market could pop up if the trade war bows again in early July.
On the flip side, if the Strait gets a little traffic jam but not a full lock‑down, Klement predicts a 5‑10% slump in stocks, but it will probably co‑exist with a continued, steady trade war for the next couple of weeks.
A Quick Take: What It Means for You
- Oil prices are on a roller coaster—watch closely.
- Big energy firms like BP and Shell are the headline‑grabbers for the moment.
- Even a “small tantrum” in the Hormuz could ripple through markets; stay tuned.
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