Halftime Report How to Trade Higher Oil amid the Iran War 3/9/26
9 snips
Mar 9, 2026 Steve Weiss, a professional investor focused on volatility and sector rotation; Jim Lebenthal, a macro-minded portfolio manager; and Joe Terranova, a former oil trader offering tactical energy calls. They discuss oil's surge amid the Iran war, how crude moves markets and shipping, short-covering and curve dynamics, sector rotation into asset-heavy names, and tactical energy and equity trade ideas.
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Oil Is Steering Market Volatility
- Oil is the market's current driver and daily crude moves have been dictating broad equity volatility.
- Joe Terranova notes spot crude volume surged from ~300 contracts/day to near 1,000,000, signaling excessive speculation behind the recent spike.
Don't Catch Falling Knives During Volatility
- Avoid trying to catch a falling knife amid heightened geopolitical volatility; wait for clearer entry points.
- Steve Weiss recommends holding current positions and waiting to deploy cash rather than buying into immediate panic.
Strait Of Hormuz Transits Are The Market Pivot
- The market is watching Strait of Hormuz tanker transits as the pivotal event that will restore oil flows and calm prices.
- Jim Lebenthal says tankers other than Iranian‑associated vessels transiting Hormuz would signal a real pivot for markets.