I was trying to write an 'oil is up' or 'oil is down' headline but each time I decided the price reversed!

Choppy opening, here are the 1 minute candles:

oil globex 15 April 2024 iran attack 2

The ES, S&P 500 futures, gapped up a touch and have also chopped, but remain higher.

Anyway, those are the early responses from futures.

And by the time I click on 'publish' it'll all be out of date. Here goes.



I posted earlier on why the subdued response. I think this is a reasonable explanation:

  • There are multiple 'hot takes' doing the rounds, the one with most credence as to why markets are, relatively, calm is that Iran gave wide notice in the days leading up to the attack that it would do so.