Quick reading Energy reserves are being depleted due to the blockage of the Strait of Hormuz with WTI crude oil at $112.25 a barrel (98.4th percentile of the 12-month range). The ECB and the Bank of Japan are set to raise rates in June, creating synchronized G7 rate-hike pressure that could compress financial conditions through…
By Gregor Stuart Hunter and Lucy Raitano SINGAPORE/LONDON, May 25 (Reuters) – The dollar fell against major currencies on Monday as hopes of a deal to reopen the Strait of Hormuz pushed oil prices below $100 a barrel, even as the United States and Iran played down chances of reaching a deal soon. Many markets…
Trading on Monday was lower due to concerns about problems in the Middle East and the Strait of Hormuz. The Dow Jones was the hardest hit, down 1.13% on the day, followed by the S&P 500 (-0.41%) and the Nasdaq Composite (-0.19%). More Barchart news The resulting red across the board led many well-known names…
President donald trump He called the recent oil crisis a “little excursion” and predicted that prices will drop quickly when the war in Iran is resolved. But the longer the Strait of Hormuz remains closed, the harder it will be to defend that assumption. In an April 26 note, Goldman Sachs commodities analyst Daan Struyven…
The UBS ETRACS Crude Oil Covered Call ETN (USOI) yields 21.08% by writing covered calls on United States Oil Fund (USO) positions, but this strategy limits upside gains during volatile oil markets; UBS has taken on greater credit risk after acquiring Credit Suisse, expanding its balance sheet to $1.7 trillion, almost double Switzerland’s GDP. Oil…
The Strait of Hormuz may be only 21 nautical miles wide, but it is a vital artery connecting the Persian Gulf to the global market. With the ongoing conflict involving the United States, Israel and Iran, the narrow passage is now the ground for a final showdown. The cost is disruption to the global energy…
VanEck Gold Miners (GDX): Gained 95% in one year amid geopolitical tensions from the conflict with Iran. Gold miners benefit from operating leverage when gold prices rise, but higher oil costs simultaneously compress margins. GDX Concentration Risk: Three holdings represent almost a third of the portfolio. The analyst who called NVIDIA in 2010 just named…
S&P 500 hits new all-time highs – Moby What a wild ride the market has been this year! The S&P 500 closed at an all-time high, slightly above 7,126, on Friday after President Trump declared the ever-important Strait of Hormuz “FULLY OPEN AND READY FOR BUSINESS.” (His emphasis on capitalization, of course.) The index gained…
By Nicole Jao NEW YORK, April 16 (Reuters) – California gasoline inventories have fallen to record lows as fuel prices have soared nationwide in the wake of the war with Iran, and analysts warn that the full effect of “supply disruptions linked to the closure of the Strait of Hormuz has not yet hit the…
The S&P 500 Index ($SPX) (SPY) today rose +0.77%, the Dow Jones Industrial Average ($DOWI) (DIA) rose +0.59% and the Nasdaq 100 Index ($IUXX) (QQQ) rose +0.98%. E-mini S&P June futures (ESM26) rose +0.73% and E-mini Nasdaq June futures (NQM26) rose +0.92%. Stock indices are rising today, with the S&P 500 at a 1.5-month high,…
