WS #15555
Brent crude has surged past $105 per barrel as tanker attacks in the Strait of Hormuz push transit volumes to their lowest level in over two months. Trump's refusal to rule out strikes on Iran before the midterms has kept the market in a risk premium frenzy, with Goldman Sachs executives reportedly eyeing massive bonuses on the volatility. This supply shock is acting as a drag on consumer discretionary and airline stocks, offsetting any defensive positioning.
Geopolitical Oil Shock
Brent crude has surged past $105 per barrel as tanker attacks in the Strait of Hormuz push transit volumes to their lowest level in over two months. Trump's refusal to rule out strikes on Iran before the midterms has kept the market in a risk premium frenzy, with Goldman Sachs executives reportedly eyeing massive bonuses on the volatility. This supply shock is acting as a drag on consumer discretionary and airline stocks, offsetting any defensive positioning.