Iran strikes trigger energy market panic, hedge funds suspected

The weekend drone strikes on Tehran didn't just escalate a geopolitical crisis; they detonated a market frenzy that has left energy traders scrambling and fueled fears of a global economic slowdown. What began as cautious adjustments on Sunday quickly devolved into a price surge bordering on chaos, exposing vulnerabilities in a system already strained by recent disruptions.

Traders' worst fears realized: a $141 barrel

The immediate aftermath saw oil prices rocket to levels not seen since 2008, with Brent crude briefly touching $119.50 a barrel before climbing further. One European energy company analyst, speaking off the record, recounted how a colleague’s bearish bet – a short position anticipating continued oversupply – imploded within hours of the attacks, costing him