Morning Call 5 May 2026: Oil Up, Stocks Down as Hormuz Escalates
The ceasefire frayed sharply on Monday as Trump’s “Project Freedom” to reopen the Strait of Hormuz drew Iranian missile and drone fire, the UAE’s Fujairah oil hub was struck, and Brent crude surged 5.4% to $114. The S&P 500 fell 0.4% from its record to 7,201.75, the Dow dropped…
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