Mike Dolan

Yeah, the honest appraisal is that the markets are disappointed with the speech because basically there was nothing new.

The president had been giving interviews and social media posting over the previous 24 hours and there was nothing more in this address to the nation last night.

So he's talked about two to three weeks more of this conflict.

And that's a long time for markets to cope with.

The oil price is back above $100 a barrel and stock markets around the world have fallen.

So maybe that jump in the gas pump price above $4 a gallon yesterday was enough to convince Washington to start to wind down this conflict because certainly those are the signals that we've seen over the last 24 hours.

Wall Street was electrified yesterday, the biggest jump in the S&P 500 in almost a year, almost 3% on Tuesday.

And futures prices are up again as we start April trading today.

And in Asia, we had extraordinary moves in Japan, 5%, Taiwan, 5%, Korea, 8%.

Markets think it's the beginning of the end.

Good morning.

Yeah, Powell's speech will be something to watch very closely.

But we have many things going on today that will feed into how markets are reacting.

The G7 finance ministers meet also looking at ways to alleviate the energy shock.

And the energy shock clearly is unfolding today.

in quite uh alarming fashion uh brent crude global benchmark above 115 barrels this morning is heading for its biggest monthly rise ever and also possibly most worrying i think for uh markets is the fact that brent futures out to three months and three or four months are now above

hundred dollars a barrel as well so uh fading hopes that there's any end to this conflict anytime soon and of course that feels the economic impact and indeed the market impact thanks mike you can catch morning bed wherever you get your podcasts as fighting with iran continues israel says it's expanding its campaign against hezbollah in lebanon

Good morning.

Yes, some glimmers of optimism in the energy markets, at least this morning.

Oil prices, global oil prices falling just below $100 a barrel, a key psychological level.