Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, March 5th, and I'm your host, Kim Khan. Our top story so far,

oil keeps rallying as the U.S. Israel War on Iran enters its sixth day, with global supply threatened by attacks

on critical infrastructure, and shipping traffic through the Strait of Hormuz almost fully stopped.

Roughly 20% of the world's daily oil consumption is now effectively trapped.

Crude prices are up another 5%.

Prediction market Kalshi now shows it's essentially a coin flip on whether Iran officially closes the straight.

The odds of Iran effectively keeping hormones close for seven or more days are, before May, 45%, before August, 55%, and before 2027, 53%.

UBS says renewed attacks on tankers in the Persian Gulf, along with the Chinese measures to curb

fuel exports, have push prices higher. The refined product market is also showing signs of stress

due to missing Middle East exports. Eric Nuttall, senior perfronium manager at 9-point partners, notes,

we are experiencing the largest loss of oil supply in history, three times bigger than the 1973 Arab oil embargo.

The level of complacency to me is staggering.

A crude tanker near an Iraqi port was targeted by an Iranian remote-controlled explosive boat,

and a second tanker anchored off Kuwait was taking on water after an explosion.

China's government has told major refiners to suspend exports of diesel and gasoline,

prioritizing domestic supply as the regional conflict escalates.

And Goldman Sachs says global oil prices will likely hit $100 per barrel

if exports through Hormuz remain subdued for several weeks.

Among active stocks, Broadcom as higher as Wall Street analysts

praised the company's strong outlook for 2027, a sign that heavy AI spending is set to continue.

City analyst Adip Malik reiterated his buy rating after the results, saying any concerns about margins

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