Welcome to Markets Desk, here's what's moving the needle this hour.
Greg Abel is putting Berkshire Hathaway's legendary cash pile to work, adding seventeen and a half million shares of Delta Air Lines and expanding the conglomerate's stake in Alphabet. It marks Abel's second full quarter at the helm since succeeding Warren Buffett, and the moves signal a more active deployment posture from Omaha.
Shifting to the energy corridor, Iran and Oman are closing in on a shipping agreement governing traffic through the Strait of Hormuz, a waterway that carries roughly a fifth of the world's oil. The deal would establish agreed routes through the strait and forms part of a broader accord, even as ship attacks in the region continue to mount and the broader US-Iran conflict stretches past five months.
Meanwhile, Treasury Secretary Scott Bessent is signaling an escalation of economic pressure on Tehran, promising unprecedented sanctions beyond the thousands already in place. Critics are skeptical given Iran is already subject to a naval blockade, but Bessent's Treasury appears to be identifying remaining pressure points, and markets will be watching closely for any measures that touch Iranian oil flows or financial networks.
That's the tape. Markets Desk, signing off the floor.
