Markets erupted this week as oil spiked 13% overnight following Israeli strikes on Iran. Anthony and Piers unpack what it all means from geopolitical shockwaves to the tactical chaos of trading during breaking news.

They also dive into the concept of backwardation and why it's dominated the oil market for years, despite the headlines. Plus, what U.S. inflation data reveals about Trump’s tariff strategy and the real pressure behind his attacks on Fed Chair Jerome Powell.

With the Fed meeting looming, a surging FTSE defying weak UK GDP, and signs of a subtle U.S.–China détente in London, this episode helps you connect the dots in a world full of noise.

(00:00) Intro & Key Themes in Focus

(02:14) Market Reactions to Geopolitical Events

(12:33) Understanding Oil Market Dynamics

(17:47) US Inflation Data and Its Implications

(25:39) Trump Pressures the Fed to Cut

(27:50) US-China Relations and Market Impact

(32:45) UK GDP and the Resilience of the FTSE 100