Oil headed for another weekly gain as the war in the Middle East dragged on, with the Strait of Hormuz all-but-closed, strikes continuing across the region, and analysts warning the crisis may deepen.
Brent traded above a $108 barrel, up more than 5% this week, after closing on Thursday at the highest since mid-2022. West Texas Intermediate for May was around $94. In the region, the Islamic Revolutionary Guard Corps said it was still able to produce missiles, the semi-official Fars news agency reported. Elsewhere, Kuwait shut down several units at Al Ahmadi Refinery following drone attacks, and Saudi Arabia intercepted missiles.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade
00:01:42 – Iran War: Oil Declines, Israel Seeks to Ease Concerns
00:04:44 – Bond Markets Hit by Oil Shock
00:07:22 – EU Leaders Discuss Energy Squeeze
00:09:21 – DOJ, Trump Want Powell Probe
00:10:19 – Trump Raises Pearl Harbor with Japan’s Takaichi
00:10:35 – Alibaba, Tencent Stocks Drop
00:13:36 – Oil, Gas Prices
00:27:09 – Cyprus Remains Stable: Cypriot Prime Minister Christodoulides
00:40:20 – Iran War Pushes Up Global Energy Prices
00:47:39 – Stocks to Watch: Unilever, Energy Stocks, Postal Stocks
01:05:13 – Qatar’s RAS Laffan Could Take Years to Repair
01:16:57 – World Trade Economist Robert Straiger
01:29:37 – UK’s Reeves Targets G7 Lead in AI Adoption
01:34:04 – HSBC Job Cuts
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