Oil markets
UAE quits OPEC, testing the oil cartel’s grip on supply
The Gulf producer says it is leaving OPEC and OPEC+ to focus on national interests, a move that could matter more after current Gulf disruptions ease
Latest News
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- AI infrastructure OpenAI revenue report hits Oracle and AI chip stocks A Wall Street Journal report on missed internal growth projections raised fresh questions about AI compute spending, though OpenAI and Oracle pushed back
- Iran war Hormuz remains in limbo as Trump weighs Iran offer Brent crude topped $112 a barrel and U.S. gasoline prices hit a wartime high as Washington considers a proposal tied to the strait but not nuclear talks
- Westminster Starmer avoids Commons inquiry over Mandelson vetting claims MPs rejected a Conservative-led bid to send the prime minister’s comments to the Privileges Committee, despite a small Labour rebellion
Federal court
Soldier pleads not guilty in Maduro prediction-market case
Prosecutors say Gannon Ken Van Dyke used classified information about a January operation to place Polymarket bets that paid more than $400,000
Bahrain citizenship crackdown
Bahrain revokes citizenship of 69 over alleged Iran support
The Gulf kingdom says the move targets disloyalty and foreign ties; a rights group says the unnamed people were denied basic safeguards
Federal indictment
Former Fauci adviser indicted over alleged COVID records concealment
Dr. David Morens is accused of using private email to evade public records rules while working at the National Institutes of Health. His attorney declined to comment
Markets
Jamie Dimon warns rising debt could trigger a bond crisis
The JPMorgan Chase CEO said deficits, geopolitics and oil prices could combine in unpredictable ways, though he said he is not worried policymakers could manage a crisis if one comes
Royal diplomacy
King Charles opens U.S. visit with Trump as allies face strains
The four-day state visit began at the White House and moved to Congress, where the king urged unity amid tensions over Iran, NATO and the future of U.S.-U.K. ties
Late-night television
Jimmy Kimmel pushes back after Trumps urge ABC to fire him
The late-night host said his “expectant widow” joke was about the Trumps’ age difference, not a call to violence after a security scare at the White House Correspondents’ Dinner