#oil-market

#oil-market

The Saudi sovereign wealth fund's exit from LIV Golf, after pouring more than $5 billion into the PGA competitor since 2022, is the first major casualty of the kingdom rationing cash as oil exports sink.

High interest rates 'froze' housing markets and 'closed' construction markets, making stock markets super interest rate sensitive. Now, oil is becoming the primary economic lever.

During the 1980 to 1988 Iran-Iraq war, both sides repeatedly targeted oil tankers in the strait, turning one of the world's most vital crude arteries into a floating battlefield.

The Justice Department has charged a soldier who allegedly made $400,000 by betting on the capture of Venezuelan President Maduro, raising eyebrows over the integrity of such financial activities.

Roughly 20 million barrels per day of oil moved through Hormuz in 2024, equivalent to about one-fifth of global petroleum liquids consumption. When that waterway closed, oil prices spiked to $126 per barrel in what the U.S. Energy Information Administration has described as the largest supply disruption in global oil market history.

Trump's post on Truth Social warned Iranian leadership that military action would target power plants and bridges if the Strait of Hormuz blockade continued, signed off with 'Praise be to Allah.'

USOI is not a straightforward crude oil fund. It is an Exchange Traded Note, a senior unsecured debt obligation issued by UBS AG after migrating from Credit Suisse following that bank's collapse.

Phillip Ingram warned on Sky News that should Iran close the Strait of Hormuz, there will be an enormous global 'economic shock.' He stated that such a closure would dwarf the economic effects witnessed during the Ukraine war.