The week in global financial markets was marked by an unprecedented escalation of hostilities in the Middle East, a factor that overshadowed any other technical indicators in the main narrative. The direct confrontation between the US and Israel against Iran, which reached its seventh day after the collapse of nuclear negotiations, has put investors on high alert. Strategic air strikes, which resulted in the death of Ayatollah Ali Khamenei, triggered immediate missile retaliation against US bases and the closure of the Strait of Hormuz. This geopolitical maneuver cut off one of the most critical energy trade routes, as approximately 20% of the world’s oil passes through the strait. As a result, crude oil prices reached highs not seen since 2022. WTI traded at USD 92 per barrel and Brent at USD 94, reigniting fears of a global inflationary shock.

This risk-off environment spread strongly to Wall Street, where the main indices (S&P 500, NASDAQ 100, and Dow Jones) suffered setbacks in a week of very high volatility, hitting annual lows. The pressure was particularly felt in the private credit sector, with declines in giants such as Blackstone and BlackRock, while the technology sector offered a discordant note of optimism with Marvell Technology, which soared 15% after presenting robust growth forecasts. However, the general sentiment is one of caution, as asset managers assess whether rising energy prices will force the Federal Reserve to recalibrate its roadmap.