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06.04.26 - 01:03
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Oil Up, Stocks Down As War Rhetoric Rises, Deadlines Loom (ZeroHedge)
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Oil Up, Stocks Down As War Rhetoric Rises, Deadlines Loom
After a long weekend of kinetic and verbal escalation (and a strong payrolls print), and with President Trump reminded Iran that his deadline for a deal looms, it is no surprise that oil prices are higher in early trading...
WTI topped $115...
Near post-war highs...
And despite the recent hope-filled decoupling of oil and stocks...
...S&P futures also weak, down around 0.7% in the early trading...
Treasury futures and gold are lower with USD/JPY near 159.70.
While the Iran conflict has established an ongoing state of caution in the market, several significant data points yet lie ahead: PCE on April 9, CPI on April 10, and FOMC on April 29.
As SpotGamma notes, the SPX Term Structure has returned to contango — which means options are pricing in higher volatility in the weeks ahead than in the near term.
Comparing that curve with Forward IV shows a meaningful spread around both the CPI and FOMC dates, suggesting current positioning may ...
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05.04.26 - 23:24
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OPEC+ Agrees To Boost Output By Another 206,000 Barrels A Day When Strait Of Hormuz Reopens (ZeroHedge)
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OPEC+ Agrees To Boost Output By Another 206,000 Barrels A Day When Strait Of Hormuz Reopens
With the world's attention glued to every headline out of Iran, it is understandable why today's OPEC+ meeting was largely ignored, although with roughly 12% of global oil output throttled at the Strait of Hormuz, it's not as if even OPEC+ could do much to offset the supply shock.
Earlier on Sunday, the oil-producing cartel (where Iran is a founding member yet was missing from the Joint Ministerial Monitoring Committee) warned that damage to Middle East energy assets will have a prolonged impact on oil supply even after the Iran war ends, as it approved a symbolic increase in output quotas for next month.
“Restoring damaged energy assets to full capacity is both costly and takes a long time,” the group's ministerial monitoring committee said in a statement after meeting on Sunday. Any action that jeopardizes security of supply, whether that's an attack on energy infrastructure or disruption o...
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05.04.26 - 21:57
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Experten skeptisch: Opec+ beschließt höhere Förderquoten (N-TV)
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Der Iran-Krieg treibt die Preise für Rohöl auf den höchsten Stand seit Jahren. Die Organisation erdölexportierender Länder will die Barrel-Menge hochschrauben. Doch so lange die Straße von Hormus geschlossen ist, könnte dies eher ein Tropfen auf dem heißen Stein sein. ...
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05.04.26 - 19:06
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Iranian drone strikes hit Kuwait′s oil infrastructure before Opec+ supply talks (The Guardian)
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Members reportedly agree rise of 206,000 barrels a day in May but move symbolic with strait of Hormuz effectively closedMiddle East crisis – live updatesIranian drones struck Kuwait's oil infrastructure on Sunday, causing “severe material damage” that threatened to further disrupt oil supplies already hit by the US and Israel's war with Tehran.It came hours before members of the Opec+ group that represents major global oil suppliers gathered to discuss how to bolster output despite Iran's effective closure of the crucial strait of Hormuz shipping route. Continue reading......
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