Welcome to Markets Desk, here's what's moving the tape.
Iran is tightening its grip on the Strait of Hormuz, and oil markets are feeling it. Tehran's increased assertiveness over that critical chokepoint — through which roughly a fifth of global oil supply flows — is pushing crude prices higher and reviving supply-shock fears that traders had largely set aside in recent months.
That geopolitical tension has a diplomatic backdrop worth noting. Iranian parliament speaker Mohammad Bagher Ghalibaf publicly dismissed President Trump's suggestion that Tehran use any unfrozen assets to purchase American agricultural goods, calling it a harvest of decades of mistrust. The exchange signals that nuclear and sanctions talks remain deeply fractured, adding another layer of uncertainty to an already fragile negotiating environment.
Meanwhile, the artificial intelligence workforce question is moving from think pieces to organized action. A new nonprofit called Raise US, backed by OpenAI, Anthropic, Amazon, and Microsoft, and led by former Commerce Secretary Gina Raimondo, is launching with a focus on helping states prepare workers for AI-driven disruption. The involvement of the major model developers themselves gives this effort both credibility and, some would argue, a vested interest in managing the narrative around job displacement.
That's the tape. Markets Desk, signing off the floor.
