US-Iran Conflict Spikes Oil Above $90, Global Stocks Plunge

TREE NEWS reports: US strikes on Iran’s Larak Island and Iran’s missile retaliation on a US base in Jordan have disrupted the Strait of Hormuz, sending Brent crude above $90.5 and WTI above $85.5. This has reignited inflation fears, raising the implied probability of a Fed rate hike in September to 57%, causing global stock markets to tumble as Treasury yields rise.