Trump gave Iran 48 hours to reopen the Strait of Hormuz. The ultimatum came as US forces searched for a missing pilot. Iranian officials called on citizens to find the "enemy pilot" escalating tensions further.
Oil traders absorbed massive whiplash. Brent crude surged 60% in March marking the biggest monthly gain since 1988. Prices hit $120 before falling to around $100 after Trump suggested the war could end within weeks.
Gulf states revisited plans for new pipelines avoiding the strait entirely. The projects replicate Saudi Arabia's East-West pipeline despite huge costs. Governments from Bangladesh to Zambia imposed energy rationing measures as fuel flows stayed disrupted.
Chinese government bonds emerged as the lone war haven. Yields dipped marginally while other major economies saw rates rise. The dollar gained on renewed conflict concerns then dropped on reports of US willingness to end the Iran campaign.
India's central bank blocked non-deliverable derivatives in the onshore market making it harder to short the rupee. The currency rose following the RBI intervention.
Workers planned to halt strikes at a major meatpacking plant. TSN Tyson Foods and PPC Pilgrim's Pride absorbed the labor pressure. Negotiations resumed showing easing tensions in the protein sector.
BAC Bank of America settled Epstein abuse claims. Lawyers said up to 75 women expected benefits from the deal.
European stocks posted their worst month since 2022 as the war dragged on. Asian markets whipsawed on crude volatility with South Korea's Kospi leading brief rebounds.
Energy rationing intensified globally as the conflict entered its fourth week.
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.
