Tom Lee Sees Equities Bottom as Macron and Starmer Act

Tom Lee of BitMine wrote that equities may have already bottomed as European leaders mobilize an international response to reopen the Strait of Hormuz after crude topped $100 a barrel.

On April 13, benchmarks spiked: West Texas Intermediate rose about 6.8% to roughly $103, Brent gained about 6.4% to near $101 and heating oil jumped about 7.8%.

French and British leaders announced coordinated action. Emmanuel Macron urged a rapid diplomatic settlement and wrote, “No effort must be spared to swiftly reach, through diplomatic means, a strong and lasting settlement.” Keir Starmer confirmed the UK has convened more than 40 nations and that the UK and France will co-host a summit to plan a multinational mission to protect shipping through the strait.

Officials described the Strait of Hormuz as effectively unusable for now because navigation routes are unclear and securing safe passage will take time. Traders and analysts noted that rerouting and delays could affect supply chains for crude and refined products.

Tom Lee acknowledged the higher geopolitical risk but pointed to recent price behavior. He noted WTI remains about $15 below a recent peak and wrote that “oil is acting ‘heavy’,” which he cited as one reason to view equity weakness as partly worked through.

Other market participants offered different views. Some analysts warned the closure could persist and keep upward pressure on energy prices. Jim Cramer observed, “If the bond market doesn’t mind it, then I don’t mind it,” reflecting how fixed-income moves factor into investor risk assessment.

Crypto traders are watching whether digital assets track equities or move like risk-off havens as energy and geopolitical risk shifts liquidity and sentiment. Historical episodes show cryptocurrencies have sometimes followed equities and sometimes diverged during macro stress.

Market participants say they will monitor shipping reports, tanker routing, official diplomatic progress and liquidity in bond markets for signs that maritime flows can be secured and that energy price pressure is easing.