Oil is trading like a meme stock, some analysts say.
Good morning. In today’s Fortune:
Global selloff in the markets as oil goes over $100 again.
The U.S. Navy admits it is afraid to sail into the Strait of Hormuz.
Oman evacuated its Mina Al Fahal terminal.
A set of storage tanks in Bahrain were torched overnight.
The price of oil is driving everything today—even the cost of fertilizer.
Three words spooking the market.
Energy markets remain on tenterhooks as the prospect of prolonged war in the Middle East grows.
U.S. stocks race toward the finish of a third straight week of big gains.
Meanwhile, the market shrugs at news of a record emergency release of oil.
Oil briefly topped $126 on Asian markets on news the United States might resume bombing Iran and the Hormuz Strait closure could…
