Energy
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Malaysia is shocked, shocked to find Iranian-linked tankers slipping through its waters
Malaysia’s maritime agency says Iranian-linked tankers are exploiting “jurisdictional gaps” to conduct ship-to-ship transfers of sanctioned oil near its waters, rejecting allegations that authorities ignored a long-running trade allowing Iran to evade U.S. sanctions. U.S.-based advocacy group United Against Nuclear Iran (UANI) and shipping industry observers say waters near Malaysia’s southern Johor state have become a key…
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Goldman sees an AI bottleneck that can’t be vide-coded away. Ford’s CEO warns it’s already a ‘full-blown’ crisis
The most expensive technology buildout in history is running headfirst into a problem Silicon Valley can’t code its way out of: there aren’t enough electricians, linemen, and tradespeople to build the physical world that AI needs to exist in. Ford CEO Jim Farley has been blunt about it. The data center boom, he told Fortune,…
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President Trump’s Golden Dome will cost $1.2 trillion, the CBO says, five times more than initially expected
Good morning. On Fortune’s radar today: A “complete reversal”: Market bears are getting louder. Could China flip Iran? Export policy built into Nvidia compensation packages. The K-shaped economy is only getting worse. President Trump’s Golden Dome plan will cost $1.2 trillion. Today’s edition was written by Eleanor Pringle, Senior Reporter, Economics and Markets. Quick note:…
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Frankenpipelines: Inside Trump’s bid to resurrect Keystone XL and stretch Dakota Access north
Two of the most controversial pipeline projects this century—the failed Keystone XL project and the successful Dakota Access Pipeline—are gaining new life to move Canadian oil into the U.S., backed by cross-border permits quickly approved by President Donald Trump. The April permits arrive as oil producers push to move growing Canadian volumes to U.S. refineries,…
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Japanese snack giant resorts to black-and-white bags of potato chips as Iran War literally sucks color out of the world
The biggest snack maker in Japan is making some of its packaging black and white as the Iran war disrupts the market for a key material used to produce printing inks. Calbee, which controls half of Japan’s snacks market but also does business in the U.S., said in a press release Tuesday that several of…
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India brings back COVID-era work-from-home rules and asks farmers to halve fertilizer use as the Iran war chokes its oil lifeline
Indian Prime Minister Narendra Modi is bringing back COVID-era work-from-home arrangements as the war in Iran cuts off a major oil lifeline. In an address earlier this week, the prime minister said Indians should make arrangements to work from home and take more virtual meetings. If citizens must leave home, they should take public transportation,…
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April inflation shoots 3.8% higher on surging prices from war in Iran
U.S. consumer prices climbed sharply again last month as the 10-week war with Iran pushed energy prices higher. The Labor Department’s consumer price index rose 3.8% from April 2025, according to data released Tuesday. On a month-to-month basis, April prices rose 0.6% from March as gasoline prices rose 5.4% during the month; the month-over-month gain…
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A second wave of Iran energy shocks is about to hit Asia and the wider world. Why aren’t markets reacting?
Global oil inventories are approaching their lowest point in eight years, with Goldman Sachs analysts estimating that stocks could fall to 98 days of global demand by the end of May. Yet if you’re looking at the markets, things look relatively rosy. Brent crude prices are hovering around $100 a barrel, down from a post-Iran…
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Trump wants to suspend the federal gas tax. The move could mean higher debt—and more potholes
Gas prices have hit their highest level since 2022, now averaging over $4.50 nationwide, and as high as $6.16 in California. But that’s apparent to anyone at the pump. As the U.S. and Iran fail to reach an agreement to end the war and reopen the Strait of Hormuz, President Donald Trump is exploring new…
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Saudia Aramco reports 25% jump in Q1 profit as Iran War reshapes oil market
Aramco, the world’s largest oil company, said Sunday its first quarter profit jumped 25% as the Iran war disrupted oil supplies and raised prices. Dhahran, Saudi Arabia-based Aramco said it successfully shifted some oil exports to a pipeline to avoid the Strait of Hormuz, which has been disrupted by the war. On Sunday, the price…