WS #6617
Multiple sources report a missile strike on a cargo ship near Dubai, raising Gulf tensions, while Trump has paused 'Project Freedom' in the Strait of Hormuz to advance Iran negotiations, causing oil and soy oil to fall. The NYT reports 'Oil Falls and Stocks Gain as Trump Changes Course in Strait of Hormuz,' and Bloomberg notes soy oil falls from three-year high. This de-escalation counters the prevailing oil supply crisis narrative. Separately, Romania's pro-EU government was ousted in a no-confidence vote, sending the leu to a record low. Equinor reported strong Q1 results with record production and a $375M buyback. Blue Owl is considering a $30B sale of Asia operations. Honda is freezing plans for a Canada EV plant due to weak US demand. Skyworks Solutions fell 3.53% after-hours despite beating estimates. Gold surged to $4,652/oz (+2.06%) and silver jumped 3.68%. The Dollar/Yen dropped sharply 1.45% to 155.60.
Key developments
- Trump pauses Strait of Hormuz blockade mission to advance Iran negotiations
- Missile strike on cargo ship near Dubai raises Gulf tensions
- Romania's pro-EU government ousted after no-confidence vote
- Gold surges to $4,652/oz (+2.06%), silver jumps 3.68%
- Dollar/Yen drops sharply 1.45% to 155.60
- Equinor reports record production, Q1 adjusted operating income $9.77B, announces $375M buyback
- Blue Owl considers $30B sale of Asia operations
- Honda freezes plans for Canada EV plant as US demand weakens