Cargo ships and tankers were attacked, and oil prices returned to $93.

It has been a day of ups and downs.

• Intra-day Volatility: Swung from a low of $86.29 to a high of $93.65, a massive 8.5% range in a single session.
• Trading Volume: Surged to 4x the 30-day average during the 04:00–06:00 window as short-sellers were "squeezed" out of positions.
• Term Structure: The Backwardation (premium for immediate delivery) reached extreme levels, indicating a "desperate" physical market despite the IEA's intervention.
• Safe Haven Shift: Gold and Bitcoin saw a "V-shaped" recovery late in the day as the initial "liquidity grab" for USD subsided, and investors returned to inflation hedges.
• Equity Impact: Energy stocks (Exxon, Chevron) and fertilizer makers (CF Industries) led the S&P 500, while airlines and global retailers plummeted on fuel-surcharge fears.
• The "Hormuz Premium": Insurance premiums for transiting the Strait have reportedly increased from 0.1% to 0.4% of hull value per transit—adding roughly $250,000 in cost for a single VLCC (Very Large Crude Carrier).

Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial, investment, or legal advice. These are strictly my personal opinions. Please consult with a licensed professional before making any investment decisions.