Kim Kahn

Hello, today is Sunday, March 1st, and I'm your host, Kim Kahn.

The U.S.

and Israel launched strikes against Iran on Saturday.

killing Supreme Leader Ayatollah Ali Khamenei and other leadership figures.

Iran's Revolutionary Guard said Sunday the most intense offensive operation ever is coming to target Israel and U.S.

Mideast bases.

President Donald Trump responded with a warning of overwhelming retaliation if Iran strikes U.S.

forces, but also told The Atlantic that he would be talking to Iran's new leadership.

With markets closed over the weekend, money is likely to be hectic on Wall Street, and oil is the first place traders will look.

Polymarket has a 93% chance of WTI crude moving higher on Monday, not surprisingly, and a 77% chance that it will be above $80 per barrel at the end of March.

That's up 27 percentage points from before the weekend, and would be a gain of more than 19% from where it sits now at $67.02.

There's also a 50% chance that crude is above $90 a barrel on the final trading day of the month.

Separately, OPEC Plus has agreed to raise output by 206,000 barrels per day in April.

That's larger than the 1.37 monthly boost announced late last year, but small relative to potential disruptions in the Middle East.

Crypto markets also offered a weekend tell.

Tokens backed by physical gold implied that gold would open higher, with prices up roughly 1-2% versus Friday's close.

And regional markets reacted quickly.

Saudi Arabia dropped 2.2%, its steepest one-day fall since April, wiping out its gains for the year.

Losses were tempered by a rise in Saudi Aramco, though.

And Egypt's main stock gauge fell 2.5%.