Squawk on the Street SOTS 2nd Hour: February CPI Report, A Historic Oil Release, & Oracle's Big Bump 3/11/26
Mar 11, 2026
Tyler Radke, Citi co-head of U.S. Software Equity Research, breaks down Oracle’s strong results and why he lifted his price target. He discusses data-center execution, Project Stargate capacity and long-term AI infrastructure contracts. The hour also covers the historic 400M-barrel IEA release, market positioning amid oil shock, and geopolitical risks around the Strait of Hormuz.
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Underlying Inflation Moderated Before Oil Shock
- Core CPI slowed to 2.5% year-over-year in February, the lowest since 2021, signaling underlying moderation before the Iran-driven oil spike.
- Sara Eisen highlighted goods prices were largely tame while services and categories like apparel showed mixed moves.
Historic 400 Million Barrel IEA Release Announced
- The IEA announced a unanimous release of 400 million barrels from member emergency reserves, the largest ever, aimed at easing Strait of Hormuz disruption.
- Pippa Stevens noted flow rate and crude vs refined product mix will determine immediate market impact.
Crude Versus Product Mix Will Drive Price Effects
- The mix matters: Europe is supplying mostly refined products while the U.S. release is largely crude, affecting diesel and gasoline differently.
- Pippa warned U.S. diesel relies on heavy distillates from Saudi Arabia and SPR can't cover natural gas shortages.