What if Brent above $130 forces central banks to delay rate cuts as inflation reaccelerates?
A Gulf supply shock holding Brent above $130 adds 1–2pp to headline CPI across advanced economies, forcing central banks to delay cuts in the stagflationary path of ECB/BoE adverse scenarios.
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The butterfly cascade
How this trigger trickles across markets, left → right — the root shock, its first‑order moves, then the ripple effects. Drag any node; tap a market for its real price history.
Resolution timeline — how this probability is moving
Our model's odds (electric blue) over time vs the market's (Polymarket, amber), from the past toward the 6–18 months horizon. Each dot is a real macro event that nudged the probability — green pushed it up, red pushed it down. Tap a dot for the source. Loading the probability audit trail…
What it would mean
If this plays out, it is a risk-off shock. A Gulf supply shock holding Brent above $130 adds 1–2pp to headline CPI across advanced economies, forcing central banks to delay cuts in the stagflationary path of ECB/BoE adverse scenarios. The trigger decomposes into signed root‑shocks — Fed policy path ▲ · Inflation surprise ▲ · Oil supply risk ▲ · Risk appetite ▼ — which propagate through our causal graph to the markets below.