Daily brief
Oil prices surged over 8% after Iran suspended talks with the US and threatened the Strait of Hormuz, while Goldman Sachs flagged two-sided risk to oil as lower consumption offsets the Iran war. Stocks hit record highs on an AI rally, with tech gains and US-Iran peace hopes boosting Wall Street, though US bonds dropped on doubt over the talks.
Iran agreed to allow more Japanese ships to pass the Strait of Hormuz, and Iraqi ports received the first Chinese ship via the strait carrying oil equipment.
Factories face soaring costs as the Iran war causes supply shocks, and the trucking industry eyes fuel surcharges amid the uncertainty.
Japan's Q1 capex growth stalled as the Iran war weighs, raising GDP downgrade risk, and JetBlue flagged higher fuel costs as the conflict drags on.
The Iran conflict brought an oil windfall to Guyana, while the US-Iran conflict disrupted Lagos infrastructure projects.