Public Markets 8-Hour Briefing

Last updated: March 15, 2026, 7:30 PM ET

Energy & Commodities

Oil prices surged 4.2% to $85.50 per barrel as industry executives warned the Trump administration that a potential closure of the Strait of Hormuz would worsen a fuel crunch, while separate reports confirmed supply fears intensified following U.S. strikes near Iran’s Kharg Island export hub. In response, the U.S. Energy Department reiterated a planned 172-million-barrel release from the Strategic Petroleum Reserve would be structured as an exchange, not a gift, to the market. The geopolitical tension also triggered a 557% rally in tungsten, a critical metal for weapons and semiconductors, as Chinese export limits and surging military demand squeeze global supplies. Meanwhile, President Trump’s call for international naval escorts to reopen the Strait of Hormuz drew cautious responses from targeted nations, highlighting the diplomatic complexity behind the supply security crisis.

Fixed Income

U.S. Treasury yields climbed across maturities, erasing all 2026 gains as a war-driven surge in oil prices stoked inflationary angst and forced a repricing of both inflation and growth risks. The sell-off deepened as investors assessed the potential for prolonged supply disruptions from the Middle East conflict.

Markets & Deals

Private equity activity remained resilient amid volatility, with L Catterton targeting ¥50 billion ($313 for investments in five Japanese consumer businesses, backed by LVMH. Separately, Triton Partners closed a €