Trump announced 34 ships passed through the Strait of Hormuz on April 12. The figure marked the highest traffic since the closure began. Oil still jumped 5% today trading above $100 despite the shipping restart showing markets remain skeptical.
FT reported North Sea oil hit record highs as Washington-Tehran ceasefire failed to stem global energy crunch. Commodity traders lost billions in early war days caught out by sudden price surges. Bond yields and energy costs face long-term scars that won't heal quickly.
HAL Halliburton shares rose after winning a multibillion-dollar Argentina contract. The energy services giant grabbed momentum as Latin America infrastructure spending accelerated. CHRD Chord Energy won a $187 target from Truist showing renewed analyst conviction in US producers.
FAST Fastenal admitted tariffs are rising faster than they can raise prices. The industrial distributor dropped on Q1 earnings as margin compression fears intensified. Crude oil gains drove gas toward $4 per gallon draining consumer wallets.
Pizza stocks gained on stay-at-home spending theory. DPZ Domino's and PZZA Papa John's climbed as high gas prices kept diners home. MCD McDonald's joined the move showing defensive rotation.
European stocks closed lower despite earlier ceasefire optimism. UK retail investors shunned falling markets during crucial ISA season showing pessimism over geopolitics. Muddy Waters founder Carson Block warned bets against US stocks will have wind at their backs as technology upends markets.
Asian markets traded mixed with oil volatility dominating headlines. Dollar held firm on haven demand.
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.
