Iran War Sparks Oil Surge, Yield Spike, Tech Drops
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- Iran war began on Feb. 28, 2026, marking the start of the conflict that has driven market turmoil.
- West Texas Intermediate crude settled at $99.64 a barrel on Friday, up 48.67% since the war began and its highest close since July 20, 2022.
- U.S. Treasury yields (10‑year) have risen sharply, reflecting inflation concerns from Gulf supply‑chain disruptions linked to the war.
- Chevron (along with ConocoPhillips and Exxon Mobil) have seen their stocks rise as oil prices surge, offering a “free ride” amid the conflict.
- Hedge funds benefit from the volatility, while long‑only investors and charitable trusts are hamstrung by high rates and a 72‑hour trading freeze on mentioned stocks.
- Intuit stock fell 37% year‑to‑date after market worries that Anthropic’s Claude could handle tax filing, despite limited competence.
- Applovin stock dropped 43.4% year‑to‑date as AI competition erodes its mobile‑ad dominance, while Workday and Gartner also suffered steep declines.
Why it matters: Oil majors like Chevron and hedge funds profit from the war‑driven price surge, while long‑only investors, charitable trusts and tech‑heavy portfolios suffer as Treasury yields climb, rates rise and AI‑related stocks such as Intuit and Applovin tumble, deepening market volatility and pressure on equity valuations.
