Oil Crashed Below One Hundred Dollars and the Market Is Calling the War's Bluff
Brent crashed through $100 for the first time since escalation but the Strait of Hormuz is still closed, so someone is wrong.
Economy
Iranian MPs Want the Hormuz Toll Written Into Law
Iranian lawmakers introduced legislation to formalize the $2M-per-tanker Strait of Hormuz toll, converting a wartime shakedown into permanent statute.
Gas Hits Four Dollars, for Real This Time
The national average hit $3.977 on Tuesday — close enough to $4 that the distinction is a rounding error and the war is the entire explanation.
Markets Surge on Peace Hopes That May Not Be Real
Dow futures jumped 317 points and Asian markets rallied on reports of a 15-point peace plan — but Iran has not confirmed receiving it and the plan's details remain unverified.
The Sanctions Waiver Is Ticking Toward April
OFAC's 30-day Iranian oil sanctions waiver expires April 19, and no extension has been signaled by Treasury.