Iran

OPEC+ will raise output by 188,000 bpd in June, but the Strait of Hormuz closure keeps Brent near $108, up 78% in 2026. J.P. Morgan warns of $150 if disruption persists.

Trump announces 50% tariffs on countries supplying Iran with weapons. Russia and China explicitly warned as primary targets amid ongoing Hormuz ceasefire negotiations.

The S&P 500 closed out its worst quarter in four years, declining roughly 7% in Q1 2026 as the Iran conflict and Hormuz blockade rattled markets for the third consecutive month. Oil prices above $100/barrel and stagflation fears dominated despite a brief Tuesday rally on de-escalation hopes.

King Charles III will make a state visit to the United States from April 27 to 30, proceeding despite calls from some UK politicians to cancel the trip amid controversy over the Iran war. The visit includes a state dinner at the White House and marks the first state visit for King Charles to the United States, with Queen Camilla accompanying.

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.

Iran-linked hacktivist group Handala claims to have breached FBI Director Kash Patel's personal email, publishing photographs and documents online. The Justice Department has confirmed the breach appears authentic.

A critical helium shortage triggered by the Iran war has taken roughly a third of global supply offline, threatening semiconductor manufacturing at TSMC, Samsung, and SK Hynix as AI chip demand soars.