Thursday's News Links

[CNBC] S&P 500 falls as oil prices rise amid U.S.-Iran conflict: Live updates

[Reuters] Oil rises over 2% on supply concerns as Iran conflict widens

[Yahoo/Bloomberg] Saudi Arabia Races to Reroute Oil as Gulf Storage Fills Up Fast

[CNBC] South Korea’s Kospi rebounds to clock its best day since 2008, soaring 10%

[Axios] Here are all the countries now involved in the Iran war

[Reuters] Iran could disrupt the Strait of Hormuz with drones for months

[Axios] How Iran's Strait of Hormuz shutdown could hit the global economy

[Axios] Kurds backed by Mossad, CIA could lead next phase of war in Iran

[CNBC] Iran’s Shahed drone: How ‘the poor man’s cruise missile’ is shaping Tehran’s retaliation

[Reuters] Exclusive: Hezbollah elite fighters return to south Lebanon to fight Israeli troops, Lebanese sources say

[AP] Repatriation flights ramp up as nations race to bring citizens home from Middle East

[Yahoo/Bloomberg] Airline Troubles Mount as Global Flight Cancellations Top 23,000

[AP] US jobless claims filings unchanged from previous week at 213,000 as layoffs remain low

[Yahoo/Reuters] Fed's Barkin: Sticky inflation, better jobs data could shift the risk outlook for the Fed

[Yahoo/Bloomberg] ‘Crowded’ Dispersion Trade Rattled by Spiraling Iran Worries

[Reuters] Has the Iran war changed the Gulf forever?

[Politico] Trump’s FAFO moment: America needs Europe after all 

[Reuters] Bank of Canada warns of risks linked to non-bank players in debt markets

[Yahoo/Bloomberg] China Keeps Record-High Budget Deficit Target to Spur Growth

[Reuters] China to inject $44 billion into state banks, boost tech financing

[AP] China sets a lower economic growth target of 4.5% to 5% for 2026 as challenges loom

[Yahoo/Reuters] China says it is the world leader in R&D for AI, vows to boost tech self-reliance

[Bloomberg] Private Credit Is Learning All About Liquidity

[Bloomberg] BlackRock Slashes Another Private Loan Value From 100 to Zero

[Bloomberg] How the Iran War Is Disrupting Global Oil and Gas Supply

[Bloomberg] Asia’s Deepening Oil Crunch Triggers Fuel Hoarding, Price Hikes

[Bloomberg] Iran Can Turn the Persian Gulf Into a Minefield

[Bloomberg] How Data Centers Became a Casualty of War

[Bloomberg] Gulf Frustrated at Being the Center of War That’s Not Theirs

[Bloomberg] Inflation More Worrying Than Growth on Iran War, ECB’s Nagel Says

[Bloomberg] China Tells Top Refiners to Halt Diesel and Gasoline Exports

[NYT] Trump Follows His Gut. His National Security Advisers Try to Keep Up.

[WSJ] Russia Is Big Winner as Iran War Drains Supplies That Ukraine Needs

[WSJ] China Signals New Era of Slower Economic Growth

[FT] Worries grow in Washington about lack of any post-war vision

[FT] Gulf oil producers face race to resume exports before storage fills up

[FT] Europe confronts threat of another energy crisis

[FT] Fertiliser disruption from Iran conflict prompts global food shortage warnings

[FT] Iran war triggers aluminium supply crunch and shutdowns across Middle East

[FT] How Pedro Sánchez became Donald Trump’s nemesis in Europe

Wednesday Evening Links

[AP] US stocks rebound after strong economic updates and as oil prices stop spiking 

[AP] Spain’s government denies cooperating with US operations in Mideast, contradicting White House

[Politico] EU scrambles to defend Spain from Trump’s embargo menace

[Yahoo Finance] Fed's Beige Book paints mixed picture of economy as hiring remains flat and tariffs raise costs

[Yahoo/Bloomberg] Trump Vows Data-Center Pledge Will Eventually Cut Power Costs

[Yahoo/Telegraph] Putin threatens to cut off gas supplies to Europe

[Bloomberg] Trump’s Shifting Iran Strategies Risk a Chaotic Global Endgame

[Bloomberg] Money Funds Rise to Record $8.27 Trillion in Dash for Cash

[WSJ] Trump ‘Actively Considering’ U.S. Role in Postwar Iran

[WSJ] Some European Leaders Are Now Openly Challenging Trump Over Iran

[WSJ] Fed’s Beige Book Sees a Stable Economy Still Facing Challenges

[WSJ] Judge Orders Government to Begin Refunding More Than $130 Billion in Tariffs

[FT] Rate of Iranian ballistic missile launches is declining, western officials say

[FT] Trump tells AI companies they need ‘PR help’ over data centre backlash

Wednesday Afternoon Links

[CNBC] Dow jumps 300 points as oil surge from Iran conflict eases, economic outlook brightens: Live updates

[Yahoo/Bloomberg] Oil Swings as Iran Denies Report of US Outreach to End War

[Yahoo/Bloomberg] Gold Advances as Dip-Buyers Enter Market Despite Dollar Strength

[Yahoo/Bloomberg] Shippers and Oil Traders Seek Details on Trump’s Convoy Plan

[Yahoo/Bloomberg] Airline Troubles Compound as Flight Cancellations Surpass 20,000

[Bloomberg] Shipping Has Collapsed Through Vital Strait of Hormuz

[Bloomberg] How Iran Conflict Is Disrupting Strait of Hormuz

[Bloomberg] US Use of Costly Weapons Against Iran Tests Limits of Inventory

[Bloomberg] Iran Tests Its Pain Threshold in Survival Battle With US and Israel

[Bloomberg] US Services Activity Expands Most Since 2022 on Demand

[Bloomberg] US War on Iran Challenges China and 'Axis of Chaos' Partners

[NYT] How the Iran War Is Choking Off the World’s Oil and Gas

[NYT] The High Stakes of Keeping the Strait of Hormuz Open

[WSJ] Strait of Hormuz: The Oil Bottleneck Threatening the Global Economy

[WSJ] Oil Market Turmoil to Continue Even If Hormuz Reopens

[WSJ] Bank of Canada Urges Regulators to Play Catch-Up on Private-Credit Risk

[FT] Israel expects weeks-long war against Iran

[FT] Gulf states in race to secure more US interceptors

[FT] Gulf insurance costs soar 12-fold despite Trump guarantee

[FT] Iran war upends popular trades

[FT] Sea levels already ‘much higher’ than many scientists had estimated