Hyperscalers will increasingly get their power off-grid, says Morgan Stanley's Stephen Byrd

Stephen Byrd of Morgan Stanley told CNBC's Power Lunch that the conflict in Iran is creating upside pressure and greater volatility in natural gas and broader energy prices due to supply risk and geopolitical transmission. He warned markets are more sensitive to regional disruptions, implying potential near-term price spikes and elevated volatility for energy commodities.

Analysis

Stephen Byrd of Morgan Stanley told CNBC's Power Lunch that the conflict in Iran is creating upside pressure and greater volatility in natural gas and broader energy prices due to supply risk and geopolitical transmission. He warned markets are more sensitive to regional disruptions, implying potential near-term price spikes and elevated volatility for energy commodities.