Julie Morgan
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Podcast Appearances
Gold is down 0.7% at $51.22.
The FTSE 100 is down 1.3% and the DAX is down 1.9%.
Hems and Hers Health is on our list of the biggest movers of the day pre-market.
Hems is up 45% after a media report said Novo Nordisk plans to sell its obesity drugs through the telehealth platform as part of a new partnership.
That's it for today's Wall Street Breakfast.
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I'm your host, Julie Morgan.
Go out and make it a great day.
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.
It's good to have you here on this Monday, March 2nd.
Crude prices have posted their biggest surge in four years after the U.S.-Israeli war with Iran disrupted traffic through the Strait of Hormuz, a critical artery for global energy supplies.
As of the time of this recording, Brent crude is up 8% at nearly $79 a barrel.
West Texas Intermediate is up more than 7% at $72.
Analysts at Citigroup said they expect Brent to trade between $80 and $90 in the near term, assuming either a leadership shift in Iran or a relatively swift de-escalation within a week or two.
A prolonged conflict, however, could push prices higher.
Iran produces about 3.3 million barrels per day.
roughly 3% of global output, but its strategic position along the strait gives it outsized influence over supply flows to major importers such as China, India, and Japan.