Crude Oil Surges Above $100 as Houthi Militants Control Key Shipping Chokepoint

The price of crude oil has spiked over $100 due to ongoing tensions in the Middle East. Houthi militants have taken control of a strategic island and town, effectively controlling one of the world's most important shipping chokepoints.

This development has driven up global bond markets as investors price in higher interest rates. However, the weakness in gold suggests that investors are treating this conflict as an inflation-and-rates shock rather than a flight to safety.

Astrologer Mark Jones points out that we are currently experiencing a critical reversal date on September 11, which often brings sharp reversals or breakouts in markets. This week saw Crude Oil, Copper, and Soybeans experience such moves, while Ethereum rallied to 2663.40.