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Stocks dented by inflation risk from rising oil, dicey geopolitics

  • Middle East tensions around the Strait of Hormuz have pushed Brent toward $97 a barrel and driven diesel to record highs, keeping energy and shipping risks top of mind.
  • Central banks look set to tighten as inflation bites — the ECB is expected to lift rates to 2.5% this week and U.S. inflation data will be a major market mover.
  • Political shocks in Europe — a far‑right surge in a German state election and strong polling for Marine Le Pen — are putting pressure on the euro and sparking talk of bigger shifts ahead.
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