Live markets: Bitcoin slips back as Iran war expansion sends oil surging above $90 per barrel
In stock news, Alphabet beat on revenue but raised its AI spending forecast again, sending its stock lower after hours.
Source: CoinDesk
―
DW NOTE
The Strait of Hormuz has been effectively shut for five months, global oil production is down 8 million barrels per day, and WTI is at $90 — which means oil has spent half a year trading 20% below its crisis high while the choke point stays closed. Markets don't price in supply shocks anymore; they price in the belief that someone will fix them.