Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to have you here on this Monday, March 2nd. I'm Julie Morgan.

Crude prices have posted their biggest surge in four years after the U.S. Israeli War with Iran disrupted traffic through the Strait of Hormuz,

a critical artery for global energy supplies. As of the time of this recording, Brent crude is up

8% at nearly $79 a barrel. West Texas Intermediate is up more than 7% at $72.

Analysts at Citigroup said they expect Brent to trade between 80 and 90 bucks in the

near term, assuming either a leadership shift in Iran or a relatively swift de-escalation within a

week or two. A prolonged conflict, however, could push prices higher. Iran produces about 3.3 million barrels per day,

roughly 3% of global output, but its strategic position along the strait gives it outsized

influence over supply flows to major importers such as China, India, and Japan. For now,

traders are focused on whether shipping

resumes normally or whether the conflict triggers a sustained oil shock with broader economic

consequences. Gold prices cross $5,400 overnight as safe haven demand mounted in the wake of the

U.S. Israeli strikes on Iran.

As of the time of this recording, spot gold is up 2.2% at 5395 after reaching a four-week

high overnight. Gold has gained about 25% year-to-date and 87% over the past year.

ING strategists noted that the gold market remains underpinned

by strong central bank buying and expectations of policy easing later this year. They added even if

tension stabilized, these structural drivers suggest downside should be limited, with any

pullbacks likely to be shallow rather than

trend reversing. Spot Silver is also on the rise up 1.8% at 9547. FedEx on Monday said that pickup and

delivery services across Bahrain, Kuwait, Iraq, Qatar, and the UAE have been temporarily suspended

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