00:00We're going to move on to Awani International updates with oil prices jumped 6% on Monday
00:05and stocks fell as Iran escalated its military campaign,
00:09hitting several chips in the Strait of Humus and setting a UAE oil pot ablaze.
00:15Rand futures rose $6.27 or 5.8% to settle at $114.44 per barrel,
00:22while U.S. West Texas' intermediate WTI crude rose $4.48 or 4.4% to settle at $106.42.
00:33The moves came after U.S. President Donald Trump pledged over the weekend
00:39that the U.S. Navy would force the Strait open,
00:42provoking the war's biggest escalations since a ceasefire was declared four weeks ago.
00:48The Strait of Humus, through which roughly a fifth of the world's seaborne oil and gas normally flows,
00:55has been severely disrupted for two months.
00:58U.S. stocks fell broadly with the Dow Jones Industrial Average down 1.13%,
01:04the S&P 500 0.41% lower and the Nasdaq Composite of 0.19%.
01:11Investment strategy analysts at Edward Jones broke Weamer said
01:15the longer oil prices elevated above $100 a barrel,
01:19the more the fiscal stimulus from the tax cuts passed in 2025
01:23shifts from being a stimulus to acting as a shock absorber.
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