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Despite a snapback rally on Friday, stocks were lower across the board last week as oil and gas prices
rose alongside inflation concerns amid a broadening of the middle eastern Iranian conflict. WTI crude enters the week near
$100 per barrel - for the first time since May – prior to the signing of the MOU as the Houthis, an Iranian terror proxy, claimed key offensive victories in Yemen – allowing for them to have a foothold to disrupt shipping traffic in the Red Sea, which has become a more important shipping route since the onset of the Iran war and challenges in shipping through the Strait of Hormuz.
