Welcome to Markets Desk, let's get you caught up on what's moving.
The Strait of Hormuz is back in focus after Energy Secretary Chris Wright declared that the United States has ended Iran's ability to close the critical waterway. Wright cited seventy-two ships carrying nineteen million barrels of oil passing through in the last twenty-four hours alone, a signal that energy supply chains through the Gulf remain intact for now, though traders will be watching crude closely.
On the energy retail side, President Trump is pressing the Justice Department to investigate why gasoline prices aren't falling faster at the pump. Crude has softened, but analysts point to refinery margins, regional supply constraints, and distribution costs as the practical friction keeping consumer prices sticky, a gap that's drawing political heat heading into summer driving season.
Shifting to biotech, Orbimed Advisors, a medical-focused hedge fund with deep sector expertise, sold two hundred eighty-one thousand shares of Enliven Therapeutics on June fifteenth of this year, collecting nearly thirteen million dollars at an average of forty-five dollars and two cents per share. Institutional exits of this size from specialist funds tend to carry informational weight, and investors will be parsing whether this reflects portfolio rebalancing or a harder read on ELVN's pipeline prospects.
That's the tape. Markets Desk, signing off the floor.
