Hormuz Closure Risk Keeps CL=F Volatile While S&P 500 Breadth Narrows to 38%

Roughly one-third of seaborne oil trade transits the Strait, and traders are marking a $150-300 per barrel scenario if access is curtailed, even as ceasefire optimism briefly capped crude this week. The top 10 S&P 500 names now account for 38% of YTD index gains, meaning equal-weighted exposure is flat and most portfol