Public Markets 3h Briefing
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Last updated: May 24, 2026, 5:30 AM ET
Geopolitics & Policy
Crude futures tumbled 3.2% to near $70/barrel after President Trump announced an imminent Iran deal reopening the Strait of Hormuz, easing peak supply fears. The prospect of restored tanker traffic through the critical chokepoint pressured energy markets, while ECB Governing Council member Martin Kocher warned the conflict-driven price spike keeps a potential 25bps hike on the table for next month unless a durable peace emerges.