🗞️ Oil Shock: How the Iran War Is Shaking the Global Economy, no country will escape the shockwaves #infopod #oilprices
Global markets were hit hard this morning as the Iran war pushed oil sharply higher. Reuters reported Brent crude around $119.50 a barrel after a roughly 25% one-day surge , with WTI also jumping sharply. Reuters described it as the biggest single-day oil move in decades, driven by fears of supply disruption, producer cutbacks in the Gulf, and damage to routes linked to the Strait of Hormuz. The immediate market message is simple. Investors are no longer pricing this as a short scare. They are pricing in the possibility of a prolonged energy shock. That is why stock markets have fallen while the dollar has strengthened. AP reported steep losses across Asia this morning, with Japan’s Nikkei down more than five percent, South Korea’s Kospi down six percent, and Taiwan also sharply lower. Reuters said bond yields have risen and markets are scaling back hopes for early interest-rate cuts because high oil means fresh inflation pressure. So what do these figures actually mean? Fi...