Oil prices are poised to hit $200 a barrel, analysts warn, as the U.S.-Israeli campaign in the Middle East enters its second month. This surge, driven by fears over the Strait of Hormuz's security, threatens to significantly impact global markets and corporate profits. The S&P 500 futures fell on Friday after President Trump delayed a decision on reopening the strait until April 6th, while Brent crude already soared roughly 50% since the conflict began.

Higher fuel costs and borrowing rates are clouding the economic outlook, with mortgage rates rising and the OECD raising its inflation forecast to 4.2%.