Global markets navigated a volatile landscape dominated by geopolitical risks and corporate restructuring. The focal point was a fragile ceasefire between the US and Iran, which offered a tentative pause in hostilities but failed to alleviate deep-seated supply concerns in the oil market. Former President Donald Trump expressed optimism about reaching a peace deal, noting that Iranian leaders were "much more reasonable" in private talks than in public statements. However, the truce showed immediate strain with continued Israeli strikes in Lebanon and Iran's warnings that such actions could derail negotiations.
Oil prices experienced significant volatility, rebounding sharply as doubts over the ceasefire's durability and new attacks on Saudi energy infrastructure reignited supply fears. West Texas Intermediate (WTI) crude briefly reclaimed $100 per barrel, while Brent crude rose above $99. Analysts highlighted the critical vulnerability of the Strait of Hormuz, through which roughly 20% of global oil supply flows. Recent attacks cut Saudi Arabia's crude production capacity by approximately 600,000 barrels per day and reduced flows on the key East-West Pipeline by around 700,000 barrels per day, amplifying fears that regional export infrastructure remains a persistent risk.
The geopolitical shockwaves began influencing broader economic indicators. China's March inflation data showed producer prices (PPI) rising 0.5% year-on-year, ending a 41-month streak of declines and marking the first positive reading in over three years. This was attributed to rising energy input costs. Consumer inflation (CPI), however, slowed to 1% from 1.3% in February, creating a challenging policy environment where cost-push pressures outpace demand-driven price increases.
In corporate developments, The Walt Disney Company announced plans to cut up to 1,000 jobs as part of an ongoing restructuring under CEO Josh D'Amaro, reflecting broader pressures in the entertainment industry. Meanwhile, Intel's stock extended a seven-session winning streak, gaining about 47.5%, after announcing an expanded multiyear partnership with Google to develop next-generation processors and infrastructure processing units (IPUs) for AI data centers.
