How 50 days of the Iran war led to the loss of $50 billion worth of oil

Federal Reserve Governor Christopher Waller on Friday said current economic conditions are complicating the approach to interest rates.

Bob McNally, president and founder of Rapidan Energy Group, said that despite oil market optimism, he believes the Strait of Hormuz will close once again unless the US and Iran make major progress on a deal over the weekend. McNally said that his estimate is that it will take at least 3 to 4 months for the oil market and supply traffic to revert back to pre-war levels once there is a deal and that there are some oil fields that may be permanently closed. (Source: Bloomberg)

Investors could point to any number of reasons behind the stock market’s neck-breaking rally. A rapid unwind in bearish wagers gone wrong should be near the top of the list.

Through the public offering, Cerebras could be worth three times more than what it was in a 2025 funding round, one person said.