The International Energy Agency (IEA) has announced it will release 400 million barrels of oil in an effort to ease the supply shock caused by the war with Iran.
But the announcement did little to calm the market.
Oil prices continue to climb, with crude recently trading around $86.50 per barrel. That’s well below the spike to nearly $120 on Sunday night, but it’s also sharply higher than the $76 low we saw yesterday.
At this point, no one knows how this war will end—or when. And that uncertainty alone is likely to keep oil prices elevated for the foreseeable future.
Of course, the ripple effects don’t stop at the energy market.
Higher oil prices directly impact consumers, inflation, and the broader economy… which means the stock market is watching every headline coming out of the Middle East.
On today’s Market Insights podcast, I sit down with my old Fox News colleague Tracy Byrnes to break it all down.
We discuss the war, oil prices, the market reaction, and what investors should be paying attention to next. We also take a moment to reminisce about our days on television—and why today’s financial media often does more harm than good for investors.
Talk soon,
Matt McCall
Founder, NXT Wave Research
