Markets, oil and geopolitics: keeping perspective during the Iran conflict
Unsurprisingly, the war with Iran has unsettled global markets. Oil and gas prices have jumped, and investors are trying to second-guess how long the conflict will last and when the Strait of Hormuz will reopen.
As a result, price action has been heavily driven by sound bites - particularly comments emanating from the White House and from those involved in global oil supply.
Mainstream media headlines increasingly portray the Iran war as a protracted and potentially destabilising conflict. This is perhaps no surprise - fear and anxiety sell, particularly when they involve the prospect of another cost-of-living shock.
Several prominent economists have also been quick to highlight potential downside scenarios, adding to the broader sense of anxiety.
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