Energy

Oil breaches $100/barrel as US prepares Hormuz blockade. Asia markets decline; most shipping stalled despite ceasefire talks. Strait of Hormuz handles one-fifth of global oil supply. Shipping insurance costs surge; vessels diverted add 2-3 weeks to voyage times.

OpenAI discloses 30 gigawatts of compute planned by 2030, dwarfing Anthropic's 7-8 gigawatts. AI infrastructure arms race accelerating as companies compete for power generation resources.

Oil records steepest weekly drop since 2020 as crude falls below $100. Ceasefire and supply recovery pressures prices. Transportation and manufacturing margins recovering from peak energy costs.

US crude closed above $100/barrel for the first time since 2022, with WTI at $106.44 and Brent crude up nearly 60% for the month. Iran has effectively closed the Strait of Hormuz, threatening approximately one-fifth of global oil supply. Trump has threatened further escalation against Iran's energy infrastructure.