🚨 Energy ripping across the board.

Crude +6.7%
Brent +6.9%
Heating Oil +13%
Coal +8.6%
Gasoline +4.7%
Nat Gas +4.2%
11/12 commodities up — rare, coordinated move.
Last seen during the early Russia–Ukraine conflict supply shock.
Market is pricing disruption risk in the Gulf.
When energy spikes → inflation rises → yields move → liquidity tightens.
Energy moves first.
Everything else follows.