Oil jumps as Middle East boils

Show notes

Israel attacks Iranian nuclear facilities. Iran sends 100s of drones on Israel. Oil jumps, the US dollar and safe haven assets rally as equities come under pressure as geopolitical tensions mount.
What’s next?
Back in October 2024, Israel had launched a major strike on Iranian nuclear facilities. At the time, Iran responded with drone attacks that were mostly intercepted and perceived more as a warning than a retaliation. Tensions eventually eased and markets quickly settled. A similar de-escalation is possible now—but not guaranteed. Judging by the price action, the market’s response to last night’s attack has been very strong.
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