GLOBAL OIL PRICES PLUNGE 25% AS ENERGY MARKETS REEL 📉
the global economy is shaking today after brent crude futures crashed over 25% following the unexpected us-iran ceasefire extension... its honestly insane to see how fast the "war premium" vanished from the energy sector in just a few hours. traders are panicking as the fear of a strait of hormuz closure evaporates and now we are looking at a massive supply glut that could send prices even lower if opec doesn't step in fast.
on the macro side the imf just warned that global inflation is still on track to hit 4.4% this year despite the drop in fuel costs because of "sticky" service prices and rising debt levels in emerging markets. plus we have the us dollar index (dxy) showing some serious strength as investors flee traditional commodities like gold—which is actually down 10% from its recent highs. if oil stays below the $70 mark for too long we could see a massive ripple effect across transportation and manufacturing sectors globally... keep an eye on the inflation data coming out of europe tomorrow because the dominoes are starting to fall.