Overview
- Brent and U.S. crude climbed roughly 7%–8% for a second day as tanker attacks, surging freight costs and threats to close the Strait of Hormuz stoked supply risks.
- Global equities slid with Europe off more than 3% and U.S. indexes down about 2% intraday, the VIX spiked, the dollar hit multi‑month highs and Treasury yields rose on sticky‑inflation concerns.
- Gold initially drew safe‑haven bids then pulled back as the stronger dollar weighed, and precious‑metal shipments via Dubai were suspended following regional airspace restrictions.
- Bitcoin swung between the mid‑$60,000s and just under $70,000, with analysts flagging outflows from Iranian platforms and cautious positioning even as ETF inflows and corporate purchases persisted.
- President Trump signaled operations could run four to five weeks or longer as Israel struck regional targets and Iran hit energy infrastructure and tankers, while Qatar halted LNG output that accounts for about one‑fifth of global supply.