During the week of the Iran strikes and escalation, all major cable news networks saw viewership increases with Fox News gaining +27% in total viewers and CNN viewership up about +41% in total viewers. We’re back to live-streaming the chapters that will show up in history books 20 years from now. Over the full year after the Ukraine invasion Fox News revenue rose about 5% (to ~$3.3B). So when unpacking the news that’s being thrown at you remember, they may not have your best interest at heart.

Oil is the first place markets look during this conflict, and prices jumped quickly from about $70 to $80 a barrel. Fighting around the Strait of Hormuz, a narrow passage that normally carries about 20% of global oil supply, threatens shipments not just from Iran but from Saudi Arabia, the UAE, Kuwait, and other Gulf producers. When that chokepoint gets messy, global supply tightens fast. Prices follow.