Persian Gulf exports have been recovering toward prewar levels, but the risks and costs associated with getting the oil to market remain stubbornly high More oil has been flowing out of the Persian Gulf, with exports approaching prewar levels. Yet prices have remained stubbornly high, with Brent crude climbing above $110 a barrel early Thursday as fresh attacks in Saudi Arabia revived concerns about supply disruptions. And prices were elevated before this latest attack.
Why aren’t they coming down? David Booth on Why You Shouldn't Panic Sell Play video: David Booth on Why You Shouldn't Panic Sell Getting oil to market remains expensive and risky, while shortages of refined fuels, particularly diesel, are adding to the pain for consumers. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it.
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Saefong have an explanation of why relief may not be coming soon. I write Need to Know each morning to cut through the noise and focus on the market moves, investing ideas and economic developments affecting your money. Sign up here to get it. **On markets:** JPMorgan strategists think the recent stock-market selloff may have run its course.
Hedge funds have already cut their equity exposure sharply, particularly in semiconductors, potentially reducing the pressure for more selling, Jules Rimmer reports. The strategists also contend investor worries around funding so-called neocloud companies such as CoreWeave are overdone. **On trading:** That said, U.S. stock-index futures are falling, led by tech, as investors seek safety in bonds and nervously watch the rise in oil prices. Tesla and Meta Platforms are both lower following earnings reports.
Meta investors were initially enthusiastic about Muse, Meta’s new AI assistant, but those gains evaporated. Investors hoping Elon Musk would shed light on a possible combination of Tesla and SpaceX came away disappointed Wednesday. The subject was barely raised during Tesla’s post-earnings conference call, writes William Gavin, even as Tesla outlined ambitious plans to begin commercial deliveries of its Optimus robot in 2027 and to double its EV manufacturing capacity by 2030.
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