Crude Tops $93 as Hormuz Disruption Rattles Rates and Currencies

Risk sentiment took a hard hit this morning as energy markets caught fire and geopolitical tensions escalated sharply. Brent crude is knocking on the door of $100 a barrel and WTI pushed past $93 [1][2] after Houthi strikes knocked out Saudi Aramco operations and direct US-Iran military confrontations disrupted shipping routes [3][4]. With Strait of Hormuz crude throughput slashed from 21.6 million to 4.9 million barrels daily [5], the resulting supply shock is feeding straight into inflation fears. Equity futures tumbled across the board—Dow futures shed roughly 400 points [6][7]—while the 10-year Treasury yield punched back above 4.8% [8]