Right-leaning financial blog ZeroHedge surfaced escalating U.S.-Iran tensions, highlighting headlines in which Trump warned Iran will face consequences for future Houthi shipping attacks and Rubio ruled out a deal.
Oil prices soared on the rhetoric, ZeroHedge reported, as the warnings raised the prospect of a broader Middle East confrontation.
Developing — unverified: Trump's specific warning to Iran, Rubio's rejection of negotiations, and a separate IRGC counter-threat have not been independently corroborated.
An RBC commodities chief warned that chokepoint chaos risks pushing oil above its 2008 peak, according to a ZeroHedge headline. The IRGC issued its own warning to Trump: strike Iran's infrastructure and they will shut off the Gulf's power, ZeroHedge also surfaced.
ZeroHedge framed the oil surge against a deteriorating macro backdrop, with major indices testing key support levels and most cross-asset markets remaining "surprisingly relaxed" about the energy move.
If crude keeps climbing, that calm may be the first casualty.