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Oil prices ease after hitting highest level since 2022 amid Iran war

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Panama Canal expects more traffic as Strait of Hormuz shipping stalls

Oil prices briefly spiked to more than $100 a barrel on Monday amid the ongoing war in Iran, before falling sharply, underscoring how initial fears of supply disruptions eased as contingency plans emerged.

Before the outbreak of war with Iran, oil was trading in the range of $60 to $70 a barrel, but prices soared after the conflict began, with crude oil futures reaching upward of $115 a barrel on Monday – the highest level since 2022 when Russia invaded Ukraine.

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Early headlines suggested global benchmark Brent crude could hit $150 a barrel due to the supply shock, though trading data showed the spike was short-lived. Crude prices were down 8%, while West Texas Intermediate fell nearly 9% on Tuesday afternoon.

HOW THE IRAN WAR COULD HIT AMERICANS’ GROCERY BILLS

Phil Flynn, senior market analyst at the Price Futures Group and a FOX Business contributor, said in an interview that panic buying ensued after reports of tankers and refineries being hit.

“But I think as the day went on into the overnight, the market realized that maybe things aren’t that bad – the U.S. is having incredible military victories, President Trump is saying, ‘hey, you know what, the war is probably not going to be going on that long.’ And even some signals that the world doesn’t have to just sit and stand and take it,” he said.

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Oil tanker in Strait of Hormuz

Oil prices surged amid uncertainty caused by the Iran war, though prices have since eased. (Giuseppe Cacace/AFP via Getty Images / Getty Images)

Leaders from the G7 nations and the International Energy Association (IEA) discussed potential releases from strategic oil reserves to respond to a potential price shock or shortage in the market on Monday and Tuesday, concluding that they weren’t immediately planning to do so while stating they’re prepared to take “necessary measures” to support the oil market if needed.

WILL TAPPING OIL RESERVES CURB SOARING GAS PRICES?

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014.

Oil production could increase in the next two years due to the price shock caused by the Iran war, the EIA said. (Reuters/Todd Korol)

“We have the possibility of a coordinated release from the G7 and the IEA of oil reserves that could cool prices,” Flynn noted. “There’s many things happening that usually happen when prices go up that can cool prices off very quickly.”

He added that Saudi Arabia built its east-to-west pipeline to avoid threats in the Persian Gulf and Strait of Hormuz and also increased its capacity to 7 million barrels a day, with expectations it will operate at full capacity in days.

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FED OFFICIALS CLOSELY MONITOR IRAN CONFLICT FOR POTENTIAL INFLATION IMPACT

USS Dewey launches a Tomahawk missile

U.S. Navy vessels in the region have also participated in the strikes on Iran. (DVIDS/U.S. Navy photo by Mass Communication Specialist 2nd Class Devin M. Langer)

Flynn added that the Energy Information Administration (EIA) released a short-term outlook on Tuesday that indicated the higher oil prices are likely to prompt U.S. producers to increase their output of crude oil in 2027. 

The EIA said that while “changes in oil prices take time to affect production – moving from investment decisions to rig deployment to well completion and first oil,” which is why it sees the current price rise having a bigger impact on production in 2027 and 2028.

AMID IRAN WAR, PRESIDENT TRUMP SUGGESTS SHORT-TERM OIL PRICE SPIKE IS ‘SMALL PRICE TO PAY’ FOR PEACE

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F-35 joint exercise formation

The U.S. military has conducted airstrikes on targets in Iran. (U.S. Air Force/Senior Airman Trevor Gordnier/51st Fighter Wing/DVIDS)

As the war in Iran continues, Flynn noted that if the conflict is able to remove the longstanding threat of Iran’s regime closing the Strait of Hormuz and fomenting conflict throughout the Middle East via proxies like the Houthis in Yemen, it could result in lower long-term oil prices with that risk mitigated.

“We’ve had an Iranian risk premium in oil since Jimmy Carter… it’s never quite gone away,” Flynn said, noting that insurance costs and the perceived risk have remained embedded in oil prices despite the market’s fluctuations over the years.

The latest price spike bears some similarities to what occurred during the early stages of Russia’s invasion of Ukraine in late February 2022, though oil prices had gradually risen above $90 a barrel before the invasion itself prompted a spike above $115 a barrel. They remained around $100 a barrel into the summer before they gradually eased closer to $80 by the end of that year.

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Flynn said that conflict presented a different challenge than the latest oil spike amid the ongoing Iran war, explaining that the “situation there was different because it wasn’t a lack of supply that drove up prices – it was the desire to stop buying Russian oil that the market wasn’t prepared to replace, and a lot of that was bad energy policy, you know the green energy policies of Europe and Joe Biden.”

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Oil Sets The Price, Crypto Waits For The Signal

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Oil Sets The Price, Crypto Waits For The Signal

Oil Sets The Price, Crypto Waits For The Signal

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Midcap mayhem! 10 stocks that plunged up to 29% in March. How many do you own?

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The Economic Times

Midcap stocks saw sharp declines in March as rising crude prices, geopolitical tensions and continued FII outflows dragged markets lower, with the Nifty falling over 11%. This list highlights 10 worst-performing midcaps, with losses of up to 29%, reflecting broad-based selling pressure across sectors during a volatile period.

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Market Brief: Silver’s Physical Tightness Is A Bullish Signal

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Market Brief: Silver's Physical Tightness Is A Bullish Signal

Silver bars 1000 grams pure Silver,business investment and wealth concept.wealth of Silver,3d rendering

Oselote/iStock via Getty Images

COMEX (US) silver’s registered inventory has fallen to 13-14% coverage of outstanding open interest, while March 2026 delivery was unusually high and SHFE (Shanghai) futures now trade at a 12% premium to COMEX, together signaling extreme tightness that creates upside pressure on silver

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FX markets muted as traders watch Iran war updates, wait for jobs data

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FX markets muted as traders watch Iran war updates, wait for jobs data

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INNOVATE Stock Q4: MediBeacon Sale Could Be Only Saving Grace, Downgrade To Sell (VATE)

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INNOVATE Stock Q4: MediBeacon Sale Could Be Only Saving Grace, Downgrade To Sell (VATE)

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A freight forwarding professional with over 20 years in the industry, I am an enthusiastic market participant with a flair for picking gems from the general rubble. My industry experience has given me insights into human behavior, investment psychology, and the need to make money work for you instead of against you. My ideas on investing are often contrarian, and the level of due diligence I apply to each of my research projects give my audience the right information at the right time.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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NBA Investigating Bucks After Giannis Antetokounmpo Insists He’s Healthy and Ready to Play

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Cooper Flagg

The NBA has launched an investigation into the Milwaukee Bucks for their handling of superstar Giannis Antetokounmpo’s injury status and potential violations of the league’s player participation policy, after the two-time MVP publicly stated he is healthy and wants to play while the team continues to hold him out.

Milwaukee Bucks star forward Giannis Antetokounmpo goes up for a shot past Phoenix's Deandre Ayton in Tuesday's sixth game of the NBA Finals, in which the Greek star scored 50 points to power the Bucks over the Suns to win their first title since 1971

ESPN’s Shams Charania reported Friday that the league is examining inconsistent statements regarding Antetokounmpo’s health. The Bucks have listed the 31-year-old forward as out for the past 10 games with a left knee hyperextension and bone bruise suffered March 15 against the Indiana Pacers. Antetokounmpo, however, has told investigators he is ready to return and the team will not medically clear him, sources said.

Antetokounmpo addressed the situation directly before Friday’s game against the Boston Celtics, expressing frustration and questioning his relationship with the organization. “You know who you are dealing with,” he told reporters. He added that he has never seen a player of his caliber publicly state he wants to play while being sidelined, and welcomed the NBA’s probe. “There should be” an investigation, he said, according to multiple accounts.

The conflict comes as the Bucks, already eliminated from playoff contention and headed for their first missed postseason since 2016, sit near the bottom of the Eastern Conference. Antetokounmpo has appeared in only 36 games this season due to multiple injuries, including a lengthy calf issue earlier in the year.

The National Basketball Players Association previously criticized the Bucks in late March, asserting that Antetokounmpo is healthy and ready to play. The union suggested the team might be engaging in tanking to improve lottery odds, stating the player participation policy exists to ensure stars like Antetokounmpo are on the court when able. “Anti-tanking policies are only as effective as their enforcement,” the NBPA said.

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Bucks coach Doc Rivers had maintained that Antetokounmpo is “progressing” but “just not healthy,” pushing back against the union’s claims in late March. Team officials have told league investigators they do not believe he is ready and that he actually wants to play, creating the conflicting narratives now under review.

The NBA has interviewed Antetokounmpo’s representatives, the Bucks and team doctors as part of the probe, sources told Charania and The Athletic. The investigation focuses on whether the franchise violated rules requiring teams to make healthy players available, particularly as the season winds down with no playoff implications.

Antetokounmpo’s public comments Friday marked a notable escalation. He described the situation as feeling like “a slap in the face” and suggested uncertainty about the future of his relationship with the Bucks. “I just don’t want to be part of it,” he said in one account, raising questions about his long-term commitment to the franchise amid ongoing injury concerns and the team’s direction.

The Greek Freak has averaged 27.6 points, 9.8 rebounds and 5.4 assists in his limited action this season while shooting a career-high 62.4% from the field. His absence has contributed to Milwaukee’s struggles, though the team has leaned on other veterans in recent games.

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League rules prohibit teams from resting healthy players for non-injury reasons, especially in the context of the new collective bargaining agreement’s emphasis on player availability. Similar investigations have targeted other franchises in recent years over load management and tanking concerns.

The Bucks have not issued a detailed public response to the latest reports beyond standard injury updates listing Antetokounmpo as out. The organization has emphasized caution with the star’s health after a season marked by multiple lower-body setbacks, including groin, calf and now knee issues.

Antetokounmpo’s desire to play contrasts with the team’s apparent preference to shut him down for the remainder of the regular season, which ends in mid-April. With the Bucks out of contention, some observers speculate the front office prioritizes preserving his long-term health and potentially positioning for a higher draft pick or future roster moves.

The situation has drawn widespread attention across the NBA. Fans, analysts and former players have weighed in on social media, with many expressing surprise at the public rift between a franchise cornerstone and his team. Antetokounmpo signed a contract extension in recent years and has been the face of the Bucks since being drafted in 2013, leading them to the 2021 NBA championship.

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The timing of the investigation adds pressure as the league office seeks to enforce participation rules uniformly. Outcomes of similar probes in the past have included fines, though more severe penalties are rare unless clear violations are proven.

As of Saturday, April 4, Antetokounmpo remained sidelined for upcoming games, with no updated timetable for his return. The NBA has not commented publicly on the investigation’s progress or potential timeline for resolution.

The episode highlights broader tensions in the modern NBA between player health, competitive integrity and strategic decision-making in a 82-game season. Stars often battle through injuries, but teams increasingly err on the side of caution, sometimes creating friction when a player feels ready.

For the Bucks, the drama unfolds against a backdrop of a disappointing season and questions about the roster’s future direction. Whether Antetokounmpo returns before the season ends — or at all — remains uncertain amid the ongoing probe.

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The Greek Freak’s comments Friday suggested he is eager to contribute while he can, emphasizing his competitive drive even in a lost season. “I want to f—ing play,” he said, underscoring the disconnect with the team’s medical and organizational stance.

League officials are expected to continue gathering information in the coming days. Any findings could influence not only the Bucks but also set precedents for how teams manage star players down the stretch of disappointing campaigns.

Antetokounmpo has not elaborated further since his pregame remarks, focusing instead on his personal preparation. The situation adds another layer of uncertainty to what has already been a challenging year for the franchise and its franchise player.

As the regular season concludes, all eyes remain on Milwaukee to see how the investigation unfolds and whether Antetokounmpo makes a late appearance. For now, the public disagreement and league scrutiny have thrust the Bucks into the spotlight for reasons far removed from on-court performance.

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IMF backs gradual BOJ rate hikes as Iran war and weak Yen fuel inflation risks

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IMF backs gradual BOJ rate hikes as Iran war and weak Yen fuel inflation risks

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UK charges three men with arson over attack on Jewish community ambulances

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UK charges three men with arson over attack on Jewish community ambulances


UK charges three men with arson over attack on Jewish community ambulances

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Silver drags commodity ETFs down up to 15% in March. What next for investors?

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The Economic Times

Commodity ETFs declined up to 15% in March, led by sharp losses in silver ETFs amid rising oil prices, geopolitical tensions and tightening liquidity. Gold ETFs also fell as stronger dollar dynamics weighed on prices. The outlook now hinges on inflation trends, liquidity conditions and central bank actions globally.

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Barclays sees limited steel impact from Iran strikes, flags China reliance

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Barclays sees limited steel impact from Iran strikes, flags China reliance

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