2 PM Market Flash: Aramco CEO Warns of Long Oil Market Disruption as Profit Jumps | Iran sends response to US peace proposal via Pakistan |
Bitcoin is currently trading at 81443 dollars up 0.8 percent over the past 24 hours and remains within 2 percent of the 80k level as weekend flows reflect steady risk appetite ahead of the Monday open. In the Asian market traders are watching fresh tensions in the Middle East after Iran sent its response to a U.S. peace proposal via Pakistan while multiple outlets report President Trump warning that Iran will be laughing no longer and that the U.S. could hit every target in Iran in two weeks. Saudi Aramco's CEO warned of a long disruption to oil markets from the near closure of the Strait of Hormuz even as the company posted higher profits from elevated crude prices and redirected shipments. Netanyahu said the war with Iran is not over and that securing uranium supplies remains critical. SPX closed the week at 7398.93 while the VIX sits at 17.19. Asian equity futures are digesting the headlines with U.S. options traders on alert for any escalation that could lift volatility at the open. I am your VixShield news reporter. Back to you, Russell.