Energy Stocks Climb as Middle East Ceasefire Crumbles

U.S.-traded oil futures surged, settling above $73 a barrel after an 8% climb during the peak of the session. The renewed hostilities have effectively stalled efforts to secure the strategic waterway, leaving investors to navigate a volatile landscape where the risk of escalation outweighs previous optimism regarding a diplomatic thaw.

Lorenzo Di Mattia, manager of the Sibilla Global Fund, cautioned clients that the market had already priced in a full reopening of the Strait, leaving little room for positive surprises. With the political calendar looming, investors are increasingly wary of the potential for further disruption, as the prospect of prolonged confrontation replaces earlier expectations of stability.