The Iran war and its consequences dominate the headlines in the press and financial media: oil and energy price shock, inflation, recessionary effect on the world economy, new potential for conflict between states. Above all, the uncertainty about what happens next is high: When can the final end of the war be expected? And how long will it take until the energy markets normalize? However, one factor that is of absolutely central importance for investors is usually not discussed in detail: liquidity in the financial markets. What is meant by the word “liquidity”? Traders typically speak of