Iran's recent escalation of attacks on commercial ships in the Strait of Hormuz has sparked renewed fears among traders regarding oil supply disruptions, potentially undermining the fragile recovery in oil exports through this vital passage.
The Joint Maritime Information Center reported that nearly 20 vessels have been targeted in the past month, intensifying worries about the sustainability of the recent rebound in oil exports. Concurrently, President Donald Trump has authorized the wider use of red-dyed diesel, typically reserved for agricultural use, to help mitigate soaring fuel prices as the U.S. approaches midterm elections.
This diesel is exempt from highway fuel taxes, allowing truckers to save over $100 per fill-up, according to the White House. Additionally, the U.S. trade deficit has reached $105.6 billion, the highest since March 2025, raising further concerns about economic stability.
In the stock market, a decline in Treasury yields and gains in technology stocks propelled the S&P 500 to a new all-time high, closing at 7,818.93, while the Dow Jones Industrial Average and Nasdaq Composite also recorded gains.
In the tech sector, Anthropic is expanding its Claude Startups program to provide access to its AI products for emerging companies, aiming to strengthen its connections with innovative startups. This move reflects the growing importance of AI in the tech landscape and the company's strategy to engage with fast-growing businesses