Good morning, you're listening to Markets Desk.
Iran's demand that the United States meet its conditions before reopening the Strait of Hormuz is rattling global energy markets, with crude prices surging on supply disruption fears. The closure threatens to squeeze Republican political standing heading into November, putting pressure on Washington to negotiate fast.
Turning to equities, Berkshire Hathaway's new chief Greg Abel just ended a fourteen-quarter net selling streak, deploying nearly twenty billion dollars in net purchases last quarter. Whether that marks a genuine screaming buy signal or simply reflects Abel putting his own stamp on the portfolio is the question every long-term investor is asking right now.
And in AI infrastructure, Nebius is trading at fifty-five times revenue, a valuation that demands extraordinary growth just to stay defensible. The company's annualized run rate hit one point nine billion dollars at the end of March, up from one point two five billion the prior quarter, but at that multiple, the market is pricing in a future that still has to be earned.
That's the tape. Markets Desk, signing off the floor.
