By David Marino and Mia Gindis, Bloomberg markets live reporters and strategists
Israel’s air strikes on Iran, followed by the Islamic Republic’s retaliation, rippled through markets Friday, prompting traders to pile into options for protection amid ongoing questions of long the conflict can last.
“The escalation between Israel and Iran, including strikes on nuclear and military targets, marks a turning point in Middle Eastern geopolitics and its ripple effects are already being felt across global markets,” said Tamas Varga, an analyst at energy brokerage PVM. “The Strait of Hormuz — through which 20 million barrels of oil pass daily — now sits on a geopolitical knife’s edge.”
