Geopolitical tensions have been elevated for the last couple of years. While the markets were still grappling with the continued standoff between Russia and Ukraine and the Israel-Hamas war, the specter of tensions in the Middle East has widened, with Israel striking Iran.
Typically, geopolitical tensions spell doom for markets – unless, of course, we're talking about defense companies, whose arms and ammunition power these wars. But when the theatre of conflict is the Middle East, energy prices are bound to react.
