Sell-Off: Energy War Escalates, Inflation Hotter, Fed Hawkish Repricing

Tuesday’s dull, low conviction tone flipped on a dime today. Israel struck upstream Iranian energy assets ( Iran’s South Pars gas field; the largest in the world) for the first time. Iran vowed retaliation against numerous Gulf energy sites, previously thought to be “safe,” or “off limits, following the Israeli strike on the gas field….