Five central banks held firm. Inflation forecasts rose. Gold had its worst week since 1983. Oil stayed near $100. And rate cuts? They're off the table until the war ends.
Week Three: Oil Above $100, New Leader Vows Continued Blockade
Iran's new Supreme Leader pledges to keep the Strait of Hormuz closed. The IEA released 400 million barrels — the largest in history — and it barely made a dent. This is stagflation.
WTI surged 35.63% — the largest weekly gain in futures history. The Strait of Hormuz is closed. The US shed 92,000 jobs. Welcome to Week One of the Iran war.
NFP beats at 130K, CPI cools to 2.4%, Takaichi wins historic supermajority, Dow can't hold 50,000 — and the AI selloff reminds everyone tech doesn't always go up.
