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SPY Faces Oil Shock Amid Calm Equity Futures

Watch: Watch crude oil prices to hold above $100 and S&P 500 futures for breakout or reversal near record highs to judge risk impact on SPY.

Full analysis

SPY shows mixed signals as physical oil markets reveal a supply shock with North Sea Forties crude at $148.87 per barrel, $40 above June Brent futures at $102. This supply disruption follows the Strait of Hormuz closure impacting 20 million barrels daily. Despite this, S&P 500 futures are flat near record highs, and retail sentiment on SPY has improved to neutral from bearish. US stock ETFs including SPY dominate global assets, highlighting sustained investment demand.

The supply shock could pressure energy costs and earnings, but strong ETF inflows and market resilience suggest cautious optimism amid geopolitical risks.

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Evidence

15 signals · latest 1h ago

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