Jet-fuel crunch and a longer Iran conflict shake markets

Global stocks slipped as oil surged and investors priced in a drawn-out Iran conflict, with Brent near $106/barrel and California facing a looming jet-fuel shortage this summer. President Trump signaled he’s not rushing to end the war, suggesting the conflict could persist, while California’s reliance on imported jet fuel raises regional economic risks amid the broader energy and geopolitical backdrop. Governance tensions at Jabil also highlighted investor frustration in the tech sector.