Last mentioned: 5d ago
Emergency Regulations
India, Thailand, and Philippines announce energy conservation and labor mandates.
Market Peak
Oil prices hit a peak of nearly $120 per barrel before settling near $90.
Hormuz Blockade
Effective shutdown of the Strait begins, trapping 20 million barrels of oil per day.
Missile Strikes
U.S. and Israel launch strikes killing Iranian leader Ayatollah Ali Khamenei.
Pre-Conflict Stability
Oil prices trade below $70 per barrel with normal traffic through the Strait of Hormuz.
IMF Economic Review
The IMF releases its review of the US economy, calling for a coordinated reduction in trade restrictions.
High-Level Meetings
Kristalina Georgieva meets with Treasury Secretary Scott Bessent and Fed Chair Jerome Powell.
New Tariff Invocation
Trump taps a different law to impose a new 10% global tariff in response to the court ruling.
Supreme Court Ruling
The US Supreme Court strikes down a significant portion of the Trump administration's initial tariff regime.
The effective closure of the Strait of Hormuz following U.S.-Israeli strikes on Iran has sent oil prices soaring and disrupted global supply chains. This 'nightmare scenario' is forcing central banks to recalibrate inflation strategies while governments implement emergency energy conservation and labor mandates.
The International Monetary Fund has urged the United States to coordinate with global partners to reduce trade restrictions following a turbulent first year of the second Trump administration. Despite a recent Supreme Court ruling striking down previous trade curbs, the administration has invoked new legal authorities to impose a 10% global tariff.