Energy markets surge on Strait of Hormuz disruption amid geopolitical tensions; equities face headwinds from security incident.

We're opening into a bifurcated market this morning—classic risk-on/risk-off crosscurrents. Energy is running hard on legitimate supply disruption fears with Brent crude up nearly 5% and the Strait of Hormuz effectively strangled by U.S.-Iran tensions. Crude's heading toward $80+ easily, which is supportive for XLE and defensive equities but a headwind for tech-heavy indices already nervous after the security incident at the White House Correspondents' Dinner. That said, the evacuation appears to have been handled smoothly, but geopolitical risk premiums are definitely baking into VIX futures and defensive positioning.

The real story here is energy infrastructure. With 13 ships already turned back from Iranian ports and mine-clearing operations underway in one of the world's most critical chokepoints, we could see crude volatile but supported in the $78–$80 range throughout the session. Watch for any escalation language out of official channels—that's your circuit-breaker for a VIX spike. Tech is vulnerable given rising rates would hurt multiple expansion, but energy names and defense contractors are quietly building positions.

Trade the chokepoint anxiety in CL and energy equities; hedge equity longs with modest VIX calls. No calendar events today means price action and headlines drive the day.