Wall Street Targets To Bounce Back To Positive Territory

Oil jumped above $116/barrel after President Trump announced plans to seize Iran's Kharg Island, which handles about 90% of Iran's oil exports, raising the risk of major supply disruption. Iran threatened to 'rain fire' on U.S. troops if a ground attack occurs, increasing geopolitical tensions and market volatility. The move is a significant near-term shock to oil markets and likely to drive risk-off positioning across commodity-linked and broader markets.

Analysis

Oil jumped above $116/barrel after President Trump announced plans to seize Iran's Kharg Island, which handles about 90% of Iran's oil exports, raising the risk of major supply disruption. Iran threatened to 'rain fire' on U.S. troops if a ground attack occurs, increasing geopolitical tensions and market volatility. The move is a significant near-term shock to oil markets and likely to drive risk-off positioning across commodity-linked and broader markets.