War with Iran drives big swings in shipping stock prices
- Shipping shares are still doing much better than the broader market year on year and year to date, but strait closure is heavily affecting shipping equities
- Shipping stocks, particularly tanker stocks, are moving quickly based on news that has implications for the duration of the strait closure
- Trump ultimatum reprieve led to rebound in stock prices, led by tanker shares
Shipping shares surged before the war with Iran, fell after hostilities ensued, and rebounded on hopes for diplomacy. If the war takes a turn for the worse, shipping equities are in the line of fire
