""Given that similar build ups were a precursor to the assault on Venezuela and the previous strikes on Iran, there's an expectation that action is imminent. So, supply concerns are swirling given that such conflict would disrupt crude shipments from Iran and across the region, particularly if the Strait of Hormuz, a key route is made impassable. The benchmark Brent Crude has hit the highest level since September, flirting with $70 dollars a barrel. The weaker dollar is also partly behind the move in crude rising higher, given that it's denominated in the currency and so makes oil more attractive for buyers."
"''The Footsie is heading up towards record levels, as geopolitical tensions make the defensive nature of the index more attractive. The flight to safe havens is intensifying with gold and silver hitting fresh records, amid concerns about fresh conflict erupting. Mining companies have made fresh gains, amid the insatiable demand for precious metals."
"The AI juggernaut is still on the move, with big tech pouring eye watering sums into the technology, but cracks are opening in the road ahead. Microsoft's mismatch between soaring AI spend and slower cloud growth unn"
US military buildup in the Gulf and heightened threats toward Iran have driven crude prices sharply higher amid concerns that conflict could disrupt shipments through the Strait of Hormuz. Brent crude approached $70 a barrel as supply worries mounted and a weaker dollar boosted oil's appeal. Flight-to-safety demand pushed gold and silver to fresh records, lifting mining stocks. Meta shares rose after stronger-than-expected results and intensified AI investment. Microsoft’s heavy AI spending paired with slower cloud growth unsettled investors. Major indices, including the S&P 500 and Footsie, moved toward record territory as defensive assets gained traction.
Read at London Business News | Londonlovesbusiness.com
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