Saturday's News Links

[Yahoo/Bloomberg] Tanker Carrying Qatari LNG Struck While Transiting Hormuz

[CNBC] Tankers near Oman come under fire as Iran threatens to choke off shipping routes

[Axios] DeepSeek's new bargain model accelerates AI's race to zero

[Reuters] Bessent's 'to do' list: buy $5-10 billion worth of Japanese yen, Reuters photo shows

[CNBC] OpenAI’s Hugging Face hack confirmed months of AI cyber warnings: ‘Pandora’s box is open’

[AP] Trump wanted interest rate cuts to be ‘Rocket Fuel’ for the economy. He is losing that fight so far

[Axios] Reflecting Pool installation "botched," DOJ says, dropping Olympian's case

[Bloomberg] Exxon, Chevron Warn Fuel Prices to Endure as War Knocks Refining

[Bloomberg] Rising Gas Prices Hit Americans Again But This Time It’s Different

[Bloomberg] US Embassies Warn Americans as Iran Threatens More Choke Points

[Bloomberg] Warsh’s Silent Treatment Has S&P Traders Bracing for Wild Swings

[Bloomberg] Phoenix Extends Record-Breaking Heat as West Faces Fire Threat

[Bloomberg] Ukraine Hits Russian Refineries as Kyiv Faces Missile Barrage

[Bloomberg] Europe’s Endless Heat Waves Imperil Once Reliable Power Sources

[NYT] In Iran, the U.S. Appears Headed for a Strategic Defeat, Allies Fear

[WSJ] Iran War Pushes Companies to Raise Prices on Beer, Paint, Fries and More

[WSJ] Iran’s Workhorse Missile Is Becoming More Dangerous for U.S. Troops

[WSJ] Warsh Floats Cut in Number of Fed Rate-Setting Meetings

[FT] US Treasury undertakes historic intervention in yen market

[FT] Bond sell-off sent warning on Federal Reserve’s credibility, says top central bank official

[FT] Chart of the Week: Warsh spooks long bonds

[FT] Humbling times for markets