A trifecta of uncertainty — from the Iran war to AI disruption to private credit — is crushing financial stocks this year. While shares of Goldman Sachs and Wells Fargo have been caught up in the downdraft, their businesses should be largely insulated from these headwinds. Nevertheless, Club stocks Goldman Sachs and Wells Fargo have been painted with the same brush as the financial sector at large...
A trifecta of uncertainty — from the Iran war to AI disruption to private credit — is crushing financial stocks this year. While shares of Goldman Sachs and Wells Fargo have been caught up in the downdraft, their businesses should be largely insulated from these headwinds. Nevertheless, Club stocks Goldman Sachs and Wells Fargo have been painted with the same brush as the financial sector at large. In a major reversal from last year's strength, Goldman has dropped 11% in 2026, while Wells has declined more than 20% year to date. We do not think these stock declines reflect the business fundamentals. It's a tough — but temporary — pill to swallow, and why we believe these titans of Wall Street should come out just fine on the other side of the current challenges. War with Iran The Iran war has led to volatility in bank stocks due to concerns that soaring oil prices could hurt both consumer and business clients and lead to reduced profits. Spiking oil means higher gas and diesel prices paid at the pump and higher fuel prices required to fly airplanes — all of which can create an inflation shock. Against that backdrop, it might be tough for the Federal Reserve — even under the next likely Fed chief Kevin Warsh — to cut interest rates. That could be bad news for consumers looking for borrowing costs to go down, not to mention being squeezed by paying more to drive and fly places. When consumers are feeling pressured, they tend to rein in spending, which can lead to taking out fewer loans or defaulting on the ones they have. On the business side, those higher fuel costs can pressure margins as energy is a major, unavoidable cost for companies, too. Additionally, when business confidence takes a hit, executives may be more hesitant to make acquisitions and do initial public offerings. That means they don't need investment banking services as much. They may also look to borrow less. "All of that essentially means growth outlook [for banks] could be slower. We could see mor...
China and the US ended the first day of trade talks in Paris on Sunday without any major developments. Talks will continue tomorrow when the US delegation is set to leave. The Chinese delegation will stay one more day before leaving on Tuesday. The first day of the sixth round of trade talks between the world’s two biggest economies – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary...
China and the US ended the first day of trade talks in Paris on Sunday without any major developments. Talks will continue tomorrow when the US delegation is set to leave. The Chinese delegation will stay one more day before leaving on Tuesday. The first day of the sixth round of trade talks between the world’s two biggest economies – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – was rather uneventful for journalists waiting outside the venue, the headquarters of the Organisation for Economic Co-operation and Development (OECD). Vice-Premier He was accompanied by Li Chenggang , China’s top international trade negotiator, and Bessent was with US Trade Representative Jamieson Greer Advertisement Discussions started at 10.05am local time and lasted for roughly two and a half hours before they took a lunch break. The Chinese delegation left the venue while the US members stayed inside. Staff members from the US side could be seen bringing in takeaway bags from Schwartz’s Deli, a Canadian chain specialising in sandwiches. Preliminary framework agreed ahead of Trump-Xi meeting Preliminary framework agreed ahead of Trump-Xi meeting Talks resumed at around 2.15pm local time and lasted until 6:02 pm local time, when the Chinese delegation left. Talks will resume tomorrow. He and Bessent could be seen leaving the building. Some members of both delegations remained at the venue to continue negotiations after the chiefs left.
Suphanat Khumsap Iran broadened its campaign against Gulf energy infrastructure and shipping lanes during the second week of the war with the United States and Israel, raising the risk of a wider disruption to global oil markets, according to an analysis from the conflict-monitoring group Armed Conflict Location & Event Data Project. Daily drone swarms have targeted Saudi Aramco’s Shayba oil field...
Suphanat Khumsap Iran broadened its campaign against Gulf energy infrastructure and shipping lanes during the second week of the war with the United States and Israel, raising the risk of a wider disruption to global oil markets, according to an analysis from the conflict-monitoring group Armed Conflict Location & Event Data Project. Daily drone swarms have targeted Saudi Aramco’s Shayba oil field, while refineries and fuel storage facilities in Bahrain, the United Arab Emirates, Kuwait and Oman have also been struck (ACLED) In a March 13 report by senior analyst Luca Nevola , the group said hostilities escalated sharply after Israeli strikes on Iranian oil facilities on March 7 pushed the conflict directly into the global energy system. Iran’s Islamic Revolutionary Guard Corps warned it would retaliate by targeting energy assets across the Gulf and disrupting maritime traffic through the Strait of Hormuz , a chokepoint that carries about one-fifth of the world’s seaborne oil. Tehran soon followed through on those threats. Iranian drone strikes hit Saudi Arabia’s Ras Tanura refinery, while attacks forced Qatar to suspend production of liquefied natural gas, according to the report. Since early March, drone swarms have repeatedly targeted Saudi Aramco’s ( ARMCO ) Shayba oil field, and energy facilities in Bahrain, the United Arab Emirates, Kuwait and Oman have also been struck. The attacks represent a shift from earlier messaging by Iranian President Masoud Pezeshkian , who had apologized to Gulf states after initial strikes and pledged not to target them unless provoked. The latest operations instead focus directly on the region’s energy infrastructure and export routes. But the most consequential pressure point may be the Strait of Hormuz itself. The narrow waterway connecting the Persian Gulf to global markets handles roughly 20% of seaborne oil and about 80 million tonnes of liquefied natural gas each year. Much of that supply is destined for Asian economies incl...
Oil prices have spiked since Israel and the U.S. launched military strikes against Iran. Brent oil, the global benchmark price, has risen from less than $80 a barrel before the conflict began to more than $100 a barrel. Fueling the surge in crude prices is the disruption to global oil supplies, as tankers can't safely transit the Strait of Hormuz. The rally in oil prices has driven up most oil sto...
Oil prices have spiked since Israel and the U.S. launched military strikes against Iran. Brent oil, the global benchmark price, has risen from less than $80 a barrel before the conflict began to more than $100 a barrel. Fueling the surge in crude prices is the disruption to global oil supplies, as tankers can't safely transit the Strait of Hormuz. The rally in oil prices has driven up most oil stocks, including Occidental Petroleum (OXY 0.91%), which has gained over 9% since the war began. Here are two things investors need to know before buying the oil stock. Occidental has underperformed the surge in crude prices Oil prices have gone hyperbolic this year. Brent has rocketed nearly 70% since the year began due to the growing conflict with Iran. While that has helped fuel a rally in Occidental's stock, shares are only up about 40% since the beginning of the year, underperforming the rise in crude prices. That's due largely to the market's belief that oil prices won't remain elevated for very long. The U.S. is working to secure the Strait of Hormuz to ensure oil flows freely out of the Persian Gulf. Additionally, the U.S., along with other members of the International Energy Agency, has agreed to release some of its emergency oil stockpiles to help fill the gap. Meanwhile, the U.S. is hopeful the military attacks will drive Iran to the bargaining table. Oil futures contracts reflect this belief. While Brent oil with a May 2026 delivery date trades above $100 a barrel, contracts with deliveries later this fall trade in the mid-to-low $80s. An end to the conflict, or at least the risk of further supply disruptions, could cause oil prices to fall back to their pre-war level, taking Occidental's stock down with them. On the other hand, if Iran continues to impede oil exports through the Strait of Hormuz or damages the oil infrastructure of neighboring Gulf nations, crude prices, especially for later-dated futures contracts, could continue to rise. That could give Occiden...
Key Points Oil prices have surged since the war with Iran began. While Occidental Petroleum's stock is up since the conflict started, it hasn't surged as much as crude prices. The oil futures market suggests that oil prices won't remain high for much longer. 10 stocks we like better than Occidental Petroleum › Oil prices have spiked since Israel and the U.S. launched military strikes against Iran....
Key Points Oil prices have surged since the war with Iran began. While Occidental Petroleum's stock is up since the conflict started, it hasn't surged as much as crude prices. The oil futures market suggests that oil prices won't remain high for much longer. 10 stocks we like better than Occidental Petroleum › Oil prices have spiked since Israel and the U.S. launched military strikes against Iran. Brent oil, the global benchmark price, has risen from less than $80 a barrel before the conflict began to more than $100 a barrel. Fueling the surge in crude prices is the disruption to global oil supplies, as tankers can't safely transit the Strait of Hormuz. The rally in oil prices has driven up most oil stocks, including Occidental Petroleum (NYSE: OXY), which has gained over 9% since the war began. Here are two things investors need to know before buying the oil stock. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Occidental has underperformed the surge in crude prices Oil prices have gone hyperbolic this year. Brent has rocketed nearly 70% since the year began due to the growing conflict with Iran. While that has helped fuel a rally in Occidental's stock, shares are only up about 40% since the beginning of the year, underperforming the rise in crude prices. That's due largely to the market's belief that oil prices won't remain elevated for very long. The U.S. is working to secure the Strait of Hormuz to ensure oil flows freely out of the Persian Gulf. Additionally, the U.S., along with other members of the International Energy Agency, has agreed to release some of its emergency oil stockpiles to help fill the gap. Meanwhile, the U.S. is hopeful the military attacks will drive Iran to the bargaining table. Oil futures contracts reflect this belief. While Brent oil with a May 2026 delivery date trad...
Pausing the scrapping of existing qualifications was the right decision. But the wider battle over further education continues The government’s granting of a stay of execution to popular courses including health and business studies BTecs, while alternatives are developed, is a victory for common sense. It should not have taken a years‑long campaign by the college sector to prevent the over‑hasty ...
Pausing the scrapping of existing qualifications was the right decision. But the wider battle over further education continues The government’s granting of a stay of execution to popular courses including health and business studies BTecs, while alternatives are developed, is a victory for common sense. It should not have taken a years‑long campaign by the college sector to prevent the over‑hasty defunding of qualifications that are taken by more than 200,000 students each year in England and Wales. Belatedly, the government has admitted as much. Jacqui Smith, the skills minister, said that the previous timetable was “too aggressive” . Welcome though this admission is, the problems with this package of reforms to 16-19 education go beyond the timetable. Other questionable decisions remain to be either justified or unpicked. The most important of these is the replacement of numerous existing diplomas with brand-new V-levels, which are being designed as A-level-size equivalents, with a view to enabling students to mix and match (for example, studying an education V-level alongside sociology and drama A-levels). Education is one of the first three V-levels due to be launched, along with finance and digital, next year. Continue reading...
Netflix (NFLX +1.06%) shares have skyrocketed 25,740% in the past 20 years (as of March 12). Investors looking to score monster returns might look at this kind of performance and consider buying this streaming stock. However, Walt Disney (DIS 0.15%), whose shares trade 51% below their peak, has a convincing argument for investment as well. Which of these stocks will make you richer going forward? ...
Netflix (NFLX +1.06%) shares have skyrocketed 25,740% in the past 20 years (as of March 12). Investors looking to score monster returns might look at this kind of performance and consider buying this streaming stock. However, Walt Disney (DIS 0.15%), whose shares trade 51% below their peak, has a convincing argument for investment as well. Which of these stocks will make you richer going forward? Netflix dominates, but the valuation reflects this position With its massive subscriber base of 325 million and 2025 revenue of $45 billion, Netflix is a dominant force in the streaming market. Investors who got in years ago have reaped the rewards. Now it's time to be critical of the valuation. Shares trade at a forward price-to-earnings (P/E) ratio of 30, which isn't cheap, especially with the likelihood that growth will decelerate in the future. Expand NYSE : DIS Walt Disney Today's Change ( -0.15 %) $ -0.15 Current Price $ 99.28 Key Data Points Market Cap $176B Day's Range $ 99.18 - $ 100.76 52wk Range $ 80.10 - $ 124.69 Volume 449K Avg Vol 11M Gross Margin 31.61 % Dividend Yield 1.26 % Disney shares are cheaper, and streaming profits are soaring From a valuation perspective, the House of Mouse wins the battle. Investors can buy Disney stock at a forward P/E multiple of 15, representing a 50% haircut to Netflix. Disney's entertainment streaming segment (including Disney+ and Hulu's streaming operations) has quickly become significantly profitable. Operating income skyrocketed 828% year over year in fiscal 2025 (ended Sept. 27, 2025). The leadership team expects this figure to soar again in fiscal 2026. Moreover, Disney has a robust experiences segment that provides diversification from a financial perspective. Investors buying in now who choose Disney shares, instead of Netflix, are positioned to produce a better return over the next five years.
Twelve people were arrested as hundreds joined a pro-Palestinian al-Quds Day demonstration on one side of the Thames, while hundreds more gathered on the opposite bank to back Israeli and American attacks on Iran. At least 1,000 police officers were drafted in to keep the two rival protests apart. Lambeth Bridge, the nearest river crossing to each rally, remained closed on Sunday afternoon. The Me...
Twelve people were arrested as hundreds joined a pro-Palestinian al-Quds Day demonstration on one side of the Thames, while hundreds more gathered on the opposite bank to back Israeli and American attacks on Iran. At least 1,000 police officers were drafted in to keep the two rival protests apart. Lambeth Bridge, the nearest river crossing to each rally, remained closed on Sunday afternoon. The Metropolitan police assistant commissioner Ade Adelekan said: “We made 12 arrests including for showing support for a proscribed organisation, affray and for threatening or abusive behaviour. We are also investigating chants made by a speaker at the al-Quds protest.” The home secretary, Shabana Mahmood, granted a police request to ban al-Quds protesters from marching, for the first time since 2012. She said: “I expect to see the full force of the law applied to anyone spreading hatred and division instead of exercising their right to peaceful protest.” Police warned the al-Quds demonstrators on the Albert Embankment that they would arrest those displaying placards, flags or chanting that “cross the line into hate crime or support of a proscribed organisation”. Some did carry placards of Iran’s new supreme leader, Mojtaba Khamenei, or his father and predecessor, Ali Khamenei, who was killed on the first day of the war. View image in fullscreen A woman hands out sweets to counterprotesters. Photograph: Kevin Coombs/Reuters There was also a heavy police presence over the Thames at Millbank at a counterprotest co-organised by Stop the Hate and the Lion Guard of Iran group. Some protesters carried both an Israeli flag and the flag of the Iranian state before the 1979 Islamic revolution to show support for Reza Pahlavi, the son of Iran’s former pro-western monarch. Georgie Stagg, 70, a retired arts administrator from Lewisham who was wearing a Palestinian keffiyeh, walked past the pro-Israeli demonstration on her way to the al-Quds rally. She was quickly moved on by a police office...
Evidence is piling up that GLP-1 drugs can treat addiction. We must learn from the way that obesity has been stigmatised In the years since so-called weight-loss jabs entered widespread use, there have been reports that these drugs may not just reduce food cravings, but in fact cravings and desires full-stop. Earlier this month, a study using large-scale data from US veterans undergoing diabetes t...
Evidence is piling up that GLP-1 drugs can treat addiction. We must learn from the way that obesity has been stigmatised In the years since so-called weight-loss jabs entered widespread use, there have been reports that these drugs may not just reduce food cravings, but in fact cravings and desires full-stop. Earlier this month, a study using large-scale data from US veterans undergoing diabetes treatment suggested that those on the jabs were less likely to develop addictions to a wide range of drugs. Patients already using substances appeared about half as likely to suffer overdose or drug-related death if they were taking the jab as well. This is an exciting avenue for future research. These medicines work partly on satiation and reward centres in the brain. It is likely that problematic food and drug cravings share a similar biological basis, and next-generation medicines may be more powerful or more targeted to one or the other. But, in the meantime, we should expect that existing weight-loss drugs will end up recommended (or prescribed off-label) for addiction treatment. This should make us rethink our approach to these remarkable medicines. Continue reading...
Roller coasters can be a lot of fun, but investors generally prefer that their stocks don't trade on a similar up-and-down track. Over the past few years, however, a roller coaster is exactly what Carvana's (CVNA +2.62%) stock has been. In late 2022, Carvana was on the brink of bankruptcy thanks to massive debt, poor timing on purchasing large inventory, significant cash burn, and worsening macroe...
Roller coasters can be a lot of fun, but investors generally prefer that their stocks don't trade on a similar up-and-down track. Over the past few years, however, a roller coaster is exactly what Carvana's (CVNA +2.62%) stock has been. In late 2022, Carvana was on the brink of bankruptcy thanks to massive debt, poor timing on purchasing large inventory, significant cash burn, and worsening macroeconomic conditions. Carvana went into complete survival mode and has emerged years later, setting record after record for its financials. Here's why recent gains could be just the starting line. Record performance You've likely heard of Carvana, perhaps even seen one of its eye-catching car vending machines. If not, the company is primarily a used car retailer attempting to drive value through better selection via its national inventory and distribution, faster delivery times, and lower costs. Glancing at Carvana's fourth-quarter results, investors likely wouldn't guess the company almost closed its doors only a few years ago. Last year, Carvana produced record full-year retail units sold of 596,641, good enough for a 43% gain over the prior year. That increase in retail units drove its top-line full-year revenue 49% higher to a record $20.3 billion, compared to the prior year. Carvana's bottom line wasn't far behind, with full-year net income increasing more than $1 billion compared to the prior year, up to $1.9 billion, yet another record. In the distant past, Carvana was no stranger to posting massive growth figures, with consecutive quarters boasting triple-digit growth in retail units, compared to the prior year. That said, growth early for Carvana was extraordinarily expensive, and when times got tough, the company had to focus on reversing losses. Years later, as a much healthier company emerged, it planned to again accelerate its increasingly profitable growth. Expand NYSE : CVNA Carvana Today's Change ( 2.62 %) $ 7.68 Current Price $ 300.32 Key Data Points Market C...
Key Points Carvana has moved from the brink of bankruptcy to record financials. The used car retailer expects 2026 to drive significant increases in retail units and adjusted EBITDA. Carvana's market share is still a paltry 1.6% of the industry, leaving massive opportunity. 10 stocks we like better than Carvana › Roller coasters can be a lot of fun, but investors generally prefer that their stocks...
Key Points Carvana has moved from the brink of bankruptcy to record financials. The used car retailer expects 2026 to drive significant increases in retail units and adjusted EBITDA. Carvana's market share is still a paltry 1.6% of the industry, leaving massive opportunity. 10 stocks we like better than Carvana › Roller coasters can be a lot of fun, but investors generally prefer that their stocks don't trade on a similar up-and-down track. Over the past few years, however, a roller coaster is exactly what Carvana's (NYSE: CVNA) stock has been. In late 2022, Carvana was on the brink of bankruptcy thanks to massive debt, poor timing on purchasing large inventory, significant cash burn, and worsening macroeconomic conditions. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Carvana went into complete survival mode and has emerged years later, setting record after record for its financials. Here's why recent gains could be just the starting line. Record performance You've likely heard of Carvana, perhaps even seen one of its eye-catching car vending machines. If not, the company is primarily a used car retailer attempting to drive value through better selection via its national inventory and distribution, faster delivery times, and lower costs. Glancing at Carvana's fourth-quarter results, investors likely wouldn't guess the company almost closed its doors only a few years ago. Last year, Carvana produced record full-year retail units sold of 596,641, good enough for a 43% gain over the prior year. That increase in retail units drove its top-line full-year revenue 49% higher to a record $20.3 billion, compared to the prior year. Carvana's bottom line wasn't far behind, with full-year net income increasing more than $1 billion compared to the prior year, up to $1.9 billion, yet another record. In the d...
Anduril Lands $20 Billion Pentagon Contract For "Modern Battlefield" Hardware Nine days after Axios reported that Palmer Luckey's Anduril was raising around $4 billion at a $60 billion valuation led by a16z and Thrive Capital, Luckey landed a major enterprise contract with the US Army worth up to $20 billion over 10 years. Photo: Kyle Grillot/Bloomberg via Getty Images Announced on Friday, the dea...
Anduril Lands $20 Billion Pentagon Contract For "Modern Battlefield" Hardware Nine days after Axios reported that Palmer Luckey's Anduril was raising around $4 billion at a $60 billion valuation led by a16z and Thrive Capital, Luckey landed a major enterprise contract with the US Army worth up to $20 billion over 10 years. Photo: Kyle Grillot/Bloomberg via Getty Images Announced on Friday, the deal features a five-year base period with an option to extend for another five years - and includes over 120 separate procurement actions into a single agreement which covers the full range of Anduril's commercial solutions - including hardware, software, infrastructure, data, computer systems, and technical support services. "The modern battlefield is increasingly defined by software. To maintain our advantage, we must be able to acquire and deploy software capabilities with speed and efficiency," said Gabe Chiulli, chief technology officer at the Department of War’s Office of the Chief Information Officer. The contract centers around Anduril's proprietary, open-architecture, AI-enabled Lattice platform , which serves as the core for integrating and unifying these capabilities into a mission-ready ecosystem. Recent reporting highlights its role in boosting counter-drone (counter-UAS) interoperability and other emerging needs. Anduril, founded in 2017 by Luckey (the creator of Oculus VR), has grown rapidly as a defense tech company focused on autonomous systems and AI-driven solutions. Last year, it reportedly generated around $2 billion in revenue. The company has gained traction under the second Trump administration for its emphasis on autonomous military technologies, including drones, fighter jets, and submarines. In January of last year, it was reported that Anduril will build a weapons megafactory, Arsenal-1, in Columbus, Ohio - which could 'go hot' as soon as July 2026. The five million-square-foot facility will be built near Rickenbacker International Airport. What An...
Unacademy, once a one of India’s most valuable edtech startups, is set to be acquired by rival upGrad in an all-stock deal that would bring together two major online learning platforms in the country. On Sunday, Unacademy co-founder and CEO Gaurav Munjal said in a post on X that the companies had signed a term sheet for upGrad to acquire Unacademy in a 100% share-swap deal, adding that the valuati...
Unacademy, once a one of India’s most valuable edtech startups, is set to be acquired by rival upGrad in an all-stock deal that would bring together two major online learning platforms in the country. On Sunday, Unacademy co-founder and CEO Gaurav Munjal said in a post on X that the companies had signed a term sheet for upGrad to acquire Unacademy in a 100% share-swap deal, adding that the valuation would not be disclosed until the transaction closes. The announcement comes more than three months after Munjal said that Unacademy’s valuation had dropped below $500 million — down roughly 85% from its pandemic-era peak of $3.5 billion in 2021. India’s once-booming edtech sector has struggled since pandemic-era lockdowns eased, as students returned to classrooms and demand for online test prep and learning platforms cooled. Companies including Unacademy, which expanded aggressively during the pandemic, have since cut costs, scaled back offline ambitions, and refocused on core digital products. In a separate post, upGrad co-founder Ronnie Screwvala said Munjal will continue leading Unacademy after the acquisition, adding that the combination would strengthen upGrad’s integrated model spanning K-12 education, upskilling, and lifelong learning. The companies have agreed to an undisclosed break fee if the deal does not close, Screwvala said. “Unacademy helped invent the modern edtech playbook,” Munjal wrote. “Along the way we lost some focus and market share, and the sector itself has not seen enough real product innovation in recent years.” Founded in 2015, Unacademy emerged as one of India’s most prominent edtech startups during the pandemic, when lockdowns drove millions of students to online learning platforms. But as demand cooled after classrooms reopened, the company reduced costs, laid off employees, and restructured parts of its business. Munjal said Unacademy currently holds more than $100 million in cash reserves after spending the past year consolidating company...
Key Points Hostilities in the Middle East don't look to be coming to an end anytime soon. Stabilized oil markets may require an unlikely peaceful power transition in Iran. These 10 stocks could mint the next wave of millionaires › It's difficult to say with any certainty how the ongoing war in the Middle East will end, or more importantly, exactly when that will happen. Yet those are critical ques...
Key Points Hostilities in the Middle East don't look to be coming to an end anytime soon. Stabilized oil markets may require an unlikely peaceful power transition in Iran. These 10 stocks could mint the next wave of millionaires › It's difficult to say with any certainty how the ongoing war in the Middle East will end, or more importantly, exactly when that will happen. Yet those are critical questions for financial markets, as the war and the resulting spike in oil prices are driving market volatility to dangerously high levels. The CBOE Volatility Index, also known as the stock market's fear gauge, recently exceeded 29 and remains near 25, above the threshold of 20 that indicates rising investor fear and volatility (above 30 is panic mode). And CNN's well-known "Fear & Greed Index" is now hovering at the intersection of "Fear" and "Extreme Fear." Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » As I write this on March 11, there seems to be little indication that the hostilities between the U.S, Israel, and Iran will cease any time soon, despite repeated reassurances from President Donald Trump that the war will wrap up "very soon." And it's telling that Trump's words about a near-term end of the war come amid other messages on the timeline from both Defense Secretary Pete Hegseth and Secretary of State Marco Rubio. Oil prices have fluctuated wildly in recent days due to the war and more specifically, to Iran's ability to bring shipping traffic through the Strait of Hormuz -- through which travels a fifth of the world's oil exports -- to a standstill. Over the weekend of March 7-8, the price of Brent crude, the international benchmark, spiked to $120 a barrel. That was up from about $71 before the war started, though it has since settled back to around $92. Policy actions to counter price spikes ...