Trump’s war on Iran has traders staring down energy crisis

Bloomberg: And yet while prices surged higher, the scale of the moves has been far smaller than in previous crises. Brent crude is only at its highest since June, while the 39% spike in European natural gas barely registers as a blip compared with the dramatic moves of the 2021-22 energy crisis.

US President Donald Trump’s bet that a redrawn global energy map could afford him much more military latitude in the Middle East than his predecessors enjoyed is paying off: so far, traders are betting that the conflict will be relatively brief…