Key insights
- Crude oil prices spiked following a Trump speech related to ongoing conflict, with WTI up 3% and Brent up 4% initially, and rising further. The author suggests oil price movements have been a leading indicator for the broader market recently. Rising oil prices could signal inflationary pressures and geopolitical risk, potentially impacting US equities negatively.
WTI Crude is up 3% instantly, Brent Crude up 4% instantly. Is this in response to the Trump speech that indicates the war is continuing, or do such rises indicate something more fundamental? I feel like the oil prices have been a pretty good indicator of the market, in the last two days it has been going down, and the market was up to everybody surprise, because everybody was thinking they were reacting to the false information Trump has spewing and it could partially be, but I think it was also because of oil prices going down, but I don't know, I would really like someone who understands how normal such effects are to chime in, please.
Edit 4% and 5% respectively they're continuing to rise quickly.