Oil Shock Is Taking Attention Away From Weakening Fundamentals
Benzinga·2026-03-10 14:10
Wall Street ended the week decisively weaker as an extraordinary oil shock collided with mounting war risk in the Middle East. The situation forced investors to reprice inflation and growth assumptions quickly.WTI crude surged more than 36% on the week, posting its largest weekly gain since futures began trading in 1983 and briefly topping USD 92.60, while Brent crude briefly topped USD 94.50. The effective disruption to traffic through the Strait of Hormuz has shifted the narrative from "tight supply" to a ...