Oil Spikes on Iran Tensions, Strong US Data Fuels Fed Fears, Precious Metals Plunge

1. Oil prices surged more than $3 per barrel on renewed fears of a US-Iran conflict, potentially pressuring airline stocks.
2. U.S. April industrial output rose 0.7%, significantly beating the 0.3% consensus and signaling economic strength that could influence Fed policy.
3. Spot silver plummeted over 8% and gold fell nearly 3%, triggering a major sell-off in related mining stocks.