WS #16371
Brent crude has surged past $113 following Houthi drone strikes on Saudi oil infrastructure, with unverified claims of traffic halts in the Strait of Hormuz adding to supply fears. This escalation is causing a broad sell-off in energy-intensive sectors, with airlines and consumer discretionary stocks leading declines. The market is pricing in a sustained supply disruption risk, pushing energy stocks higher while weighing heavily on global growth expectations.
Middle East Energy Shock
Brent crude has surged past $113 following Houthi drone strikes on Saudi oil infrastructure, with unverified claims of traffic halts in the Strait of Hormuz adding to supply fears. This escalation is causing a broad sell-off in energy-intensive sectors, with airlines and consumer discretionary stocks leading declines. The market is pricing in a sustained supply disruption risk, pushing energy stocks higher while weighing heavily on global growth expectations.