Asking Tom White to explain the recent volatility and price surge in oil markets.
Diane
Tom White
Oil volatility will continue due to Middle East production pullbacks (Iraq down 70%, Kuwait), attacks on Iranian reserves, and Strait of Hormuz closure.
Notes Trump's comment that oil prices will drop rapidly after Iran threat, asks how long this will last and about airline pressure.
Diane
Tom White
Airlines and cruise lines under pressure from jet fuel costs hitting margins; Middle East flight disruption minimal (Delta <1%, United 1.5-2%).
Tom White
Small caps down over 4%, Dow down over 3% last week, but tech did well (IGV rallied, Amazon, Microsoft up).