BUSINESS
The oil prices you see don’t tell the market’s real story
Refiners in Asia, the top consuming region, are buying cargoes from thousands of miles away at eye-watering premiums to Brent as they try and secure whatever supplies are available
WORLD
Russia says drone attacks repelled near Bashneft oil refineries
The energy giant Rosneft PJSC’s Bashneft unit has three oil processing facilities in the city with a combined processing capacity of 23.5 million tons a year.
WORLD
Iranian navy guided Indian tanker through Strait of Hormuz, crew member says
The Iranians took details of the ship’s flag, name, origin and destination ports, and the nationality of the crew members — all of whom were Indian — and guided them on an agreed course.
WORLD
Zombie ship posing as LNG carrier appears to transit Hormuz
The vessel identifying as liquefied natural gas carrier Jamal left the strait on Friday morning, ship-tracking data show. However, the same tanker was also recorded as having beached at an Indian demolition yard in October last year, where it is being broken up.
MARKETS
US stocks drop to six-month low on angst over prolonged war
The S&P 500 Index finished 1.5% lower in New York while the tech-heavy Nasdaq 100 declined 1.9%, dragged down by Nvidia Corp. and Micron Technology Inc.
BUSINESS
Blackstone Private Credit Fund has first monthly loss since 2022
BCRED is among a number of private credit vehicles that have faced elevated redemptions in recent quarters, amid concerns about valuations and underwriting standards in credit markets, as well as the potential for artificial intelligence to disrupt software businesses.
WORLD
Harvard sued by DOJ over alleged antisemitism on campus
In a statement, Harvard spokesperson Sarah Kennedy-O’Reilly called the lawsuit “yet another pretextual and retaliatory action by the administration for refusing to turn over control of Harvard to the federal government.”
WORLD
US faces twin pressures as recession odds climb and fuel costs rise
According to data from Polymarket, the probability of the US entering a recession in 2026 has climbed to 36%
COMPANIES
Ozempic copies at Rs 1,290 in India as generic GLP-1 era starts
Natco Pharma plans to make an injection for semaglutide — the active ingredient in both Ozempic and Wegovy — that will have a starting price of Rs 1,290 a month, on the first day the generics are allowed
WORLD
StanChart, BSI lose Singapore court bid in 1MDB claims
The 1MDB scandal was one of the biggest financial frauds in history, with stolen funds estimated to have exceeded $4 billion
BUSINESS
Gold set for worst week in 4 decades as Iran war curbs rate-cut bets
Bullion slipped as much as 2.1% as the dollar and bond yields rallied after a Wall Street Journal report that the Pentagon is sending three warships and thousands of additional Marines to the Middle East
MARKETS
US stocks, bonds fall as Iran war shows no signs of easing
The S&P 500 fell about 1%, set for its the longest weekly slide in a year.
WORLD
Trump, Takaichi unveil $40 billion US nuclear project
The reactor deal is the latest from the $550 billion fund that the US and Japan agreed to as part of an agreement that saw Trump lower auto tariffs and other levies.
BUSINESS
Super Micro co-founder charged with smuggling chips to China
The indictment marks the biggest chip smuggling case US prosecutors have pursued since first restricting Nvidia shipments to China in 2022.
WORLD
Russia plans to allow military to defend citizens prosecuted abroad
The threat of military force could give Moscow another tool to pressure governments abroad.
WORLD
Swiss ban arms exports to US during Iran war over neutrality
Switzerland’s strict neutrality rules have already led it to close its airspace for US military flights directly linked to the Iran war.
BUSINESS
Bank of family that lent to popes and emperors may be for sale
The private bank manages almost €7 billion ($8 billion) of assets, mostly from high-net-worth clients and via a network of intermediaries. VIG currently values the bank at about €120 million.
WORLD
Iran strike to cost QatarEnergy $20 billion a year in sales
The missile strikes on Ras Laffan Industrial City damaged QatarEnergy’s Trains 4 and 6, which represent a combined 12.8 million tons of annual production capacity, the company said in a statement Thursday.
BUSINESS
Alibaba targets $100 billion of AI revenue in 5 years
MARKETS
Asian stocks edge higher at open as oil retreats
The MSCI Asia Pacific Index rose 0.3% after losing 2.6% in the last session, when strikes on energy assets in the Middle East stoked concerns of a prolonged economic impact from the war.
WORLD
How weeks of Iran war are reshaping the global gas market for years to come
Three weeks of conflict in the Middle East have upended the entire energy supply chain
WORLD
Trump references Pearl Harbor as Iran war tests US-Japan alliance
“Who knows better about surprise than Japan?” Trump said, turning to Takaichi with a chuckle. “Why didn’t you tell me about Pearl Harbor?”
MARKETS
US bonds and stocks sell off as crude oil rally extends
The yield on two-year Treasuries climbed as much as 18 basis points to 3.95% before paring the move
BUSINESS
Gold and silver plunge as Iran war damps rate-cut hopes
Gold slid as much as 6%, on track for its longest losing streak since 2023
