Oil Prices Fall Sharply, WTI Trades Near $102 a Barrel

Oil posted its largest surge in four years after the US-Israeli war with Iran effectively closed the Strait of Hormuz, throwing the global crude market into turmoil. Expect tighter physical supply, higher near-term oil prices, elevated volatility across energy and broader markets, and upward pressure on inflation that could weigh on risk assets.

Analysis

Oil posted its largest surge in four years after the US-Israeli war with Iran effectively closed the Strait of Hormuz, throwing the global crude market into turmoil. Expect tighter physical supply, higher near-term oil prices, elevated volatility across energy and broader markets, and upward pressure on inflation that could weigh on risk assets.