Competing forces – AI versus Iran

If at the start of hostilities between Iran and the US, someone predicted that two months later we would be in the biggest energy crisis for a generation and that major stock markets would be at all-time highs, this would have seemed highly unlikely. All economic activity is energy transformed, and higher energy prices have historically caused rising inflation and falling economic growth. This was most recently seen in 2022 when the war between Russia and the Ukraine began. With no obvious end to the war between Iran and the US (accepting this can change in a social media post) why are markets...