Oil Advances as US Blockade of Hormuz Escalates Energy Crisis

Crude prices are surging as the Iran war drives the worst supply disruption in the history of the oil market, with no signs of abating. The shock is highly negative for consumers and energy-intensive sectors, while supporting oil producers and widening market volatility. The event has broad macro and inflation implications and is likely to move global energy markets materially.

Analysis

Crude prices are surging as the Iran war drives the worst supply disruption in the history of the oil market, with no signs of abating. The shock is highly negative for consumers and energy-intensive sectors, while supporting oil producers and widening market volatility. The event has broad macro and inflation implications and is likely to move global energy markets materially.