Overview
- A fresh round of strikes resumed the shaky ceasefire on Wednesday, with an Iranian missile damaging Kuwait’s airport and U.S. forces striking sites near the Strait of Hormuz, increasing the risk of further Gulf supply disruption.
- Brent crude climbed into the mid‑to‑high $90s per barrel and edged toward $100 as traders priced the chance of interrupted flows through the Strait of Hormuz, a chokepoint that carries about one‑fifth of world oil shipments.
- Global equities paused or fell from recent records as higher oil and geopolitical risk prompted profit taking, with Indian markets notably opening sharply lower and the Sensex plunging hundreds of points.
- Risk assets including cryptocurrency weakened, with Bitcoin falling into the mid‑$65,000s, while the dollar held in a tight high‑98/99 band as investors moved into safer assets and reduced exposure to speculative positions.
- Policy makers and institutions warned of wider effects: the OECD said prolonged conflict could cut global growth and lift inflation, and central banks from the Fed to the RBI now face tighter trade‑offs when they set near‑term interest‑rate plans.