I am continually baffled at how seemingly calm the markets are during all of this. From my reading, there are going to be massive energy shortages. Oil/gas infrastructure is continually being damaged and wells cannot easily restart when stopped. If all hostilities ended today, it would still be months to return to normalcy. I have my doubts that peace is on the horizon.

What am I missing? Or is there just unbridled optimism that things work out in the end?

A more accurate reading is that Israel violated the day old ceasefire with a surprise attack that produced the highest Lebanese casualty count since the current conflict began. [0]

From the article:

Israel carries out its largest strikes in Beirut Israel carried out its largest attack in Lebanon since the start of the war last month, after asserting that the U.S.-Iran ceasefire deal did not include its fight against Lebanon's Iran-backed militant group Hezbollah.

A series of Israeli airstrikes hit multiple neighborhoods in the heart of Beirut during morning rush hour, causing panic around the capital.

Lebanon's health minister said 89 people were killed and 722 wounded, as they continued pulling people out of the rubble.

Israeli military spokesperson Lt. Col. Nadav Shoshani explained why Israel made a surprise attack. "Leading up to this operation, we've seen Hezbollah disperse over different areas, taking advantage of the warnings that we provide for civilians to also hide for themselves among the civilians, moving, trying to scatter their operations in different locations and to hide behind civilian locations," he said.

[0] Point 10 of the ceasefire: - "Cease-fire on all fronts, including Israel’s conflict with Hezbollah in Lebanon."

https://www.wsj.com/livecoverage/iran-war-2026-trump-deadlin...

[1] CNN reporting that Iran has halted traffic through the Strait of Hormuz in response

https://www.cnn.com/2026/04/08/world/live-news/iran-war-trum...