Crude oil just crossed $100 a barrel.
First time since July 2022.
WTI hit $108 overnight. Brent's trading north of $110.
Here's what happened while you slept:
Explosions in Tehran. IDF dismantled Iran's Quds Force transport network. UAE intercepted 12 out of 15 missiles — the rest fell in the sea.
Iran's moved 11 million barrels of oil through the Strait of Hormuz since this war began. Aramco is rerouting supply to bypass Hormuz entirely.
G7 is discussing whether to tap strategic oil reserves.
Add last Friday's jobs miss to the mix, and the macro picture is shifting fast.
The energy trade just changed overnight. Blake Young's going live in 30 minutes to break down what this means for crude, nat gas, the broader market — and what setups are in play right now.
— TheoTrade