Trump demanded Iran reopen the Strait of Hormuz within 48 hours as the US pilot search continued. The conflict entered week four with markets whipsawing on diplomatic signals. Oil traders faced unprecedented volatility after being wrongfooted early in the war.
Brent crude surged 60% in March marking the biggest monthly gain since 1988. Prices oscillated wildly between $95 and $120 as traders positioned for extended disruption. Prediction markets saw massive bets on $120 oil this week.
Gulf states revived pipeline plans to bypass the Strait. Saudi Arabia's existing East-West pipeline served as template despite huge costs and engineering complexity. Governments from Bangladesh to Zambia imposed rationing to cut fuel demand.
Asia-Pacific stocks mostly rose Friday on hopes for Hormuz reopening. The Kospi led rebounds after Trump suggested the war could end within weeks. European markets closed higher despite soured economic sentiment.
Gold dropped on dollar strength and rising rate expectations. The precious metal headed for its worst month in 17 years as safe-haven flows rotated. Chinese government bonds emerged as the sole war haven with yields down marginally since conflict started.
PPC Pilgrim's Pride faced strike resolution as workers planned to halt action and resume negotiations. The meatpacking disruption threatened US food supply chains. Bank of America settled Epstein abuse claims with up to 75 women benefiting.
India's central bank blocked rupee shorts via non-deliverable derivatives restrictions. The currency intervention reflected emerging market stress from prolonged conflict. Treasury officials called regulators to discuss mounting private credit risks.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
