It is no surprise that oil futures are up today. What is surprising is that they are only up 7% so far this morning. I feared that the jump would have been significantly greater. Still, for oil futures, this is the largest single day increase in several years, and marks a 30% increase so far this year, since the leadup to the war.
Speculators and Hedge Fund Investors, working with amounts in the Billions, surely are profiting in the Billions off of this tragedy. They are like vultures hovering over the slaughter, looking for the opportunity to swoop down and feast on the assets of the average American, and on cheap Iranian blood. They deliberately manipulate the market, in this case through a bullish run on this precious and essential commodity, driving up prices, thus threatening inflation and a reduction in the real value of the dollar.
Meanwhile, and perhaps by design, US Treasury Bonds and the dollar are benefiting on the global market as a result of the war, which is helping to offset what would otherwise be greater market volatility in these early hours of the first day of trading since the invasion commenced on Friday night.
Time will tell how the market fares in the end. Of course, this depends on whether a decisive military victory can be achieved by Empire, as well as a political one; whether Iran is able to preserve the status quo in essence, albeit with different members in leadership, or whether indeed the opposition is successful in taking power. And of course, the details of the process, of how war plays out, also matter as to how this war will affect the US and global market(s).
Speak Truth2Power!