Latest Business News
Strait of Hormuz Closure Drives Oil Prices Above $110
The Strait of Hormuz remains closed after US-Israeli strikes on Iran, disrupting 20% of global oil demand and pushing crude prices past $110 per barrel. Iran's threats and attacks on tankers have reignited oil shock fears, with WTI at $76.31 and Brent at $83.39 recently.
Bahrain declared force majeure on its refinery after an attack.
Global Stocks Plunge on Oil Surge and Middle East War
Major indexes tanked as energy-importing markets suffered most: Europe's Stoxx 600 down 6%, Japan's Topix and Nikkei fell 5-6%, South Korea's Kospi 11%. US S&P 500 dropped 2% but held better, while Dow fell 0.7% amid twitchy trading.
International equities reversed outperformance versus US stocks due to conflict.
Middle East Conflict Causes Supply Chain Shock
BlackRock notes the war upends market trends, with energy prices spiking and European natural gas up 70% versus 8% in US. US 10-year Treasury yields rose to 4.11% on inflation fears despite haven status.
Attacks widened to civilian infrastructure like desalination plants and oil depots.
US Recession Odds Spike to 33% on Iran War
Prediction markets like Kalshi show US 2026 recession odds at 33%, up from 22% last week amid expanding Middle East conflict. White House urges calm, citing short-term disruptions but positive long-term outlook.
Global selloff reflects fears of economic slowdown.
Goldman Sachs Raises Q2 Oil Forecasts Amid Hormuz Crisis
Goldman Sachs lifted Q2 2026 Brent to $76 and WTI to $71 per barrel due to reduced Hormuz shipments and inventory draws. Q4 forecasts also raised to $66 Brent/$62 WTI, assuming no quick normalization.
OPEC+ plans 206,000 bpd increase from April, but overshadowed by disruptions.
US Stocks Recover Slightly After Early Plunge
S&P 500 fell 0.3% after 1.5% drop, Dow down 336 points (0.7%), Nasdaq up 0.1% amid oil price jitters. Markets abroad hit harder, with South Korea Kospi down 6% and Japan Nikkei 5.2%.
10-year Treasury yield dipped to 4.13%.
Brutal US Jobs Report Adds to Market Woes
US lost 92,000 jobs last month, fueling stock declines alongside oil surge toward $100. Investors caught between inflation risks from oil and cooling labor market signs.
AI disruptions and credit market worries compound pressures.
Iran Attacks Crude Tanker, Hammers Stocks Further
Oil prices spiked after Iran attacked a tanker, raising inflation fears. US and international prices surged, with worries of oil shock sending markets lower.
Game-changing oil above $100 likely to persist.
OPEC+ to Add Output Despite Geopolitical Tensions
Eight OPEC+ members, led by Saudi Arabia and Russia, agreed to 206,000 bpd from April 2026, exceeding prior estimates. This counters Hormuz closure effects but provides limited relief amid war escalation.
Standard Chartered raised Q1 Brent to $74.
Energy-Importing Economies Brace for Pain
Regions dependent on oil imports sagged sharply, with China envoy calling for end to attacks. South Korean President warns against hoarding and collusion.
French and Italian markets neutral per BlackRock amid political and fiscal drags.
Private Credit Risks Emerge with Retail Investor Influx
Moody's warns of liquidity concerns from retail money flooding private markets. This plays out amid broader market stress from oil and geopolitics.
US inflation data in focus, with sticky services pressures expected.