US oil and stock market futures open in 7 hours. $C $TAO $XAN

Markets have yet to react to a ton of new events, including US strikes on Kharg Island and President Trump's global call to militarily open the Strait of Hormuz.

However, the war timeline seems to be expanding, as the US is now saying the war will "likely" end within the "next few weeks."

This is a vastly different outlook than where we were just six days ago, on March 9th, when President Trump said the war was “very complete.”

And, even as the US Navy is preparing to "open" the Strait of Hormuz, shipping activity through the Strait remains near zero.

The US has 7 hours to calm oil markets before futures open, or oil prices are heading back above $100/barrel.

Prepare for more turbulence.