as markets came back into balance. The Sunday spike to $119 was caused by massive short covering in the oil market by those who were long puts/short calls. There was no one to take the other side of the market during thin trading on Sunday. Oil prices will rise again as long as shipments from the Persian Gulf are closed. Iran gets to decide when that happens.

in February, to a seasonally adjusted 4.09 million units. There were 1.29 million units for sale in January, up 4.9% YOY. Mortgage rates at 6.0% back then were a big help. Inventories are at 3.8 months. The median sale price was $398,000, up 0.3% YOY.

Some operations have been ​scaled back to manage inventory levels as ⁠traffic through the Strait of Hormuz ​has been challenged, he said. Exxon is a ​minority partner in oil projects in the UAE, Qatar, and Saudi Arabia. Exxon wouldn’t be doing this if it believed the war would be over in three weeks. Another vote for a long war.

on a flight to safety bid. Crypto-related stocks also got a lift. Robinhood (HOOD), a digital asset brokerage, rose 2.4% in premarket trading, while Strategy (MSTR)—the largest corporate holder of Bitcoin—rose 3.1%. Crypto has been trying to put in a bottom for months.

the most exposed airline to rising fuel prices. American Airlines is attractively priced at 0.2 times price to sales, with analysts projecting over 60% upside. Robust premium and corporate travel demand, coupled with debt reduction below $35 billion in 2026, supports American Airlines. American Airlines projects 2026 earnings between $1.70 and $2.70 per share, with 2027 EPS growth of nearly 30%.