WS #15844
Brent crude has surged past $106 per barrel as Iran escalates shipping strikes in the Gulf to keep oil prices elevated ahead of the US election. The International Energy Agency (IEA) has warned that diesel will remain tight globally through the second half of 2027, while Confindustria warns that a closure of the Strait of Hormuz could wipe out European GDP growth. This supply shock is driving a massive rotation into energy stocks while punishing energy-intensive sectors.
Energy Supply Shock and Geopolitics
Brent crude has surged past $106 per barrel as Iran escalates shipping strikes in the Gulf to keep oil prices elevated ahead of the US election. The International Energy Agency (IEA) has warned that diesel will remain tight globally through the second half of 2027, while Confindustria warns that a closure of the Strait of Hormuz could wipe out European GDP growth. This supply shock is driving a massive rotation into energy stocks while punishing energy-intensive sectors.