Source: CME FedWatch Tool, March 13, 2026

Markets navigated a volatile week shaped by geopolitics and shifting economic expectations. Escalating tensions involving Iran initially sent oil prices surging toward $120 per barrel early in the week as investors feared potential impacts arising from closure of the Strait of Hormuz, a critical global energy chokepoint. Prices then briefly plunged below $80 before stabilizing near $95 as traders reassessed the likelihood and duration of any disruption to global supply. The sharp swings in crude reverberated across financial markets, fueling renewed inflation concerns and increasing uncertainty about the global growth outlook.

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