Finance
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The Strait of Hormuz is finally reopening, but energy flows may not get back to normal until next year
The memorandum of understanding that the U.S. and Iran have endorsed will fully reopen the Strait of Hormuz on Friday, but unwinding the biggest oil disruption ever will take longer than creating it. In a span of just three months, global supplies lost about 2 billion barrels of oil, forcing top energy-consuming countries to tap…
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Australia’s richest person just bought a SpaceX stake worth more than $1 billion. ‘Elon has done what very few people in history have done’
Since its stock market debut on Friday, SpaceX has already hit a valuation of $2.5 trillion, and the company’s got the attention of Australia’s richest person. Gina Rinehart announced on Monday that she’s made a “significant investment” in the company. The mining magnate’s stake is worth more than $1 billion, the Wall Street Journal reported.…
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Here’s how SpaceX’s debut stacks up against other major IPOs
On Friday, the world waited with bated breath to watch how markets would react to SpaceX’s blockbuster $1.75 trillion IPO, which raised $85.7 billion in proceeds. Now, on its first full day of trading, the company is worth more than $2.4 trillion. The stock began trading at $150 a share, and as of Monday afternoon…
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Iran emerges from war with its economy in free fall and inflation on some food items above 400%. If the regime doesn’t fix it, ‘there will be trouble’
The regime in Tehran is still standing after the U.S.-Israeli war on Iran, but its economy is collapsing and could spark more unrest among the population. Iran’s economy was already in shambles before the war began more than three months ago, with high inflation and a currency crash spurring mass protests in late December. But…
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Current price of oil as of June 15, 2026
As of 9 a.m. Eastern Time today, oil sold for $84.62 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s 67 cents lower than yesterday and approximately a $8.63 rise over the past year. Oil price per barrel % Change Price of oil yesterday $85.29 -0.78% Price of oil 1 month…
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Oil and gas supplies could take months to return to normal after Iran deal, energy experts say
High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace…
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Markets celebrate U.S.-Iran deal as both sides confirm this time is real. Trump says oil will flow and ‘I never cared about regime change’
U.S. stock futures jumped and oil prices tumbled on Sunday after the U.S. and Iran confirmed they reached a deal that would reopen the Strait of Hormuz, after weeks of dashed hopes. Futures tied to the Dow Jones industrial average leapt 267 points, or 0.52%. S&P 500 futures were up 0.79%, and Nasdaq futures surged 1.26%. U.S. oil futures…
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Social Security faces steep cuts. These senators want to bet on stocks and $27 trillion in debt to save it—but ‘the gamble does not always pay off’
Lawmakers have long known that Social Security faces a day of reckoning but have dodged any reforms that would cut benefits, hike taxes, or do both. The dilemma gained more urgency when new projections this month showed that the Social Security trust fund will run out of money sooner than previously thought, meaning benefits would…
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Iran proved it can close the Strait of Hormuz, but the U.S. is advertising very loudly that the world’s top superpower can at least punch open a hole
Regardless of a ceasefire deal that reopens the Strait of Hormuz, Iran’s demonstrated ability to shut it down will continue to hang over the global economy, rendering the narrow waterway a contested space. But while the U.S. has failed to restore freedom of navigation in the strait, a steady drumbeat of messaging recently suggests an…
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Wall Street is gaining access to new catastrophe models to help predict wars
As Wall Street races to incorporate war into its risk scenarios, the same people modeling natural catastrophes are now adapting their methodology to help investors, banks and insurers predict military conflicts. Since 2008, the number of countries engaged in external conflicts has nearly doubled to just over 100, while the economic impact of violence now…