Wildest day for oil ever
3/10/202622 min
Over the weekend, the price of oil had its biggest intraday swing on record, bouncing between $84 and $119 per barrel in just 23 hours. Today on the show, Rob Armstrong and Katie Martin survey the wreckage, and try to figure out if the price of oil is driving policy in Washington. Also they go long neckties and Korean food crazes.
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Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsKatie Martin· Host0:00
[on hold music] Pushkin. So is the US conflict with Iran over? I'm not just trying to be a smartass here, I genuinely don't know. Earlier this week, Donald Trump said the conflict was, and I quote, "Very complete, pretty much," while his Secretary of Defense, Pete Hegseth, outlined a plan for the next phase of the bombardment. An enterprising reporter somewhere asked Trump to explain which it was, very complete or still underway. The answer? "You could say both." [upbeat music] Confused? Well, welcome to the club. But investors seem pretty sure they've spotted a taco. T-A-C-O, you guys, Trump always chickens out. Oil prices have dropped back, and stocks are picking up. Today on the show, what do investors really make of this war, and what is our best guess of what happens next in the markets? This is Unhedged, the markets and finance podcast from the Financial Times. And Pushkin, I'm Katie Martin, a markets columnist at FT HQ in old London Town, and I'm joined all the way from the Big Apple, New York City, by His Excellency, the very Reverend Robert Armstrong off of the Unhedged newsletter. Rob, like, seriously, what is going on?
Robert Armstrong· Host1:24
Congregants at Our Lady of Eternal Liquidity, peace be with you. And it's really hard to