Iran War: Oil Set for Weekly Surge as War Heads Toward 4th Week

Oil headed for another weekly gain as the war in the Middle East dragged on, with the Strait of Hormuz all-but-closed, strikes continuing across the region, and analysts warning the crisis may deepen. Brent traded above a $108 barrel, up more than 5% this week, after closing on Thursday at the highest since mid-2022. West Texas Intermediate for May was around $94. In the region, the Islamic Revolutionary Guard Corps said it was still able to produce missiles, the semi-official Fars news agency reported. Elsewhere, Kuwait shut down several units at Al Ahmadi Refinery following drone attacks, and Saudi Arabia intercepted missiles. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Tom Mackenzie. Chapters: 00:00:00 - The Opening Trade 00:01:42 - Iran War: Oil Declines, Israel Seeks to Ease Concerns 00:04:44 - Bond Markets Hit by Oil Shock 00:07:22 - EU Leaders Discuss Energy Squeeze 00:09:21 - DOJ, Trump Want Powell Probe 00:10:19 - Trump Raises Pearl Harbor with Japan's Takaichi 00:10:35 - Alibaba, Tencent Stocks Drop 00:13:36 - Oil, Gas Prices 00:27:09 - Cyprus Remains Stable: Cypriot Prime Minister Christodoulides 00:40:20 - Iran War Pushes Up Global Energy Prices 00:47:39 - Stocks to Watch: Unilever, Energy Stocks, Postal Stocks 01:05:13 - Qatar's RAS Laffan Could Take Years to Repair 01:16:57 - World Trade Economist Robert Straiger 01:29:37 - UK's Reeves Targets G7 Lead in AI Adoption 01:34:04 - HSBC Job Cuts -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts