CNBC · Apr 10, 2026, 4:49 AM
Iran has effectively closed the Strait of Hormuz in the war with the U.S. and Israel, creating an oil supply crunch and sending global energy prices soaring.
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Iran has effectively closed the Strait of Hormuz in the war with the U.S. and Israel, creating an oil supply crunch and sending global energy prices soaring.
The West Texas Intermediate was up 0.62% at $98.48 per barrel as of 7:50 p.m. ET. Brent crude ended the session at $95.92 per barrel.
The Indian rupee has become Asia’s best-performing currency since the central bank cracked down on speculation late last month, with most positions unwound ahead of Friday’s deadline, traders said.
China summoned the country’s leading battery makers for a second time in a little over three months, reinforcing a call to restrict capacity expansion and avoid the price wars that have damaged other renewable-energy industries in the past.
China summoned the country’s leading battery makers for a second time in a little over three months, reinforcing a call to restrict capacity expansion and avoid the price wars that have damaged other renewable-energy industries in the past.
A top Chinese battery storage manufacturer said it expects a sharp rise in first-quarter profit as overseas demand surges, a sign the country’s clean tech exporters stand to benefit from energy disruptions caused by the war in Iran.
The West Texas Intermediate was up 0.62% at $98.48 per barrel as of 7:50 p.m. ET. Brent crude ended the session at $95.92 per barrel.
Oaktree Capital Management assured clients its exposure to software companies and direct lending remains limited, as global private credit funds retreat from areas showing heightened risk.
China faces possible inflationary spillovers, though its massive strategic stockpiling onshore and diversified sources of energy provided some cushion.
Two Japanese crude tankers are heading east along the Persian Gulf toward the Strait of Hormuz, adding to a growing number of vessels gathered at the entrance to the waterway during a US-Iran ceasefire, even as President Donald Trump ramps up criticism and traffic remains limited.
Two Japanese crude tankers are heading east along the Persian Gulf in the direction of the Strait of Hormuz, adding to a growing number of vessels gathered at the entrance to the waterway during a US-Iran ceasefire, even as President Donald Trump ramps up criticism and transits remain limited.
Two Japanese crude tankers are heading east along the Persian Gulf in the direction of the Strait of Hormuz, adding to a growing number of vessels gathered at the entrance to the waterway during a US-Iran ceasefire, even as President Donald Trump ramps up criticism and transits remain limited.
Donald Trump’s second big shock to the world economy since he returned to the White House looks increasingly likely to force central banks into a new round of tightening.
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
Shares of Nvidia-backed optical component maker Lumentum have climbed 1,500% this year as enthusiasm about AI-related infrastructure grows. Speaking to Bloomberg, CEO Michael Hurlston says their products are now sold out through 2027, and that while manufacturing capacity is expanding, it hasn’t yet caught up with hyperscaler demand. (Source: Bloomberg)
The Chinese government has given state refiners the green light to tap commercial reserves of oil, according to people familiar with the matter, as a six-week war in the Middle East creates a global energy crunch.
Gas shortages linked to the Iran conflict have reached India’s factories. Glassmakers are cutting output, with ripple effects from liquor companies to global retailers like Walmart. (Source: Bloomberg)
China faces possible inflationary spillovers, though its massive strategic stockpiling onshore and diversified sources of energy provided some cushion.
JPMorgan Asset Management's Julio Callegari says the market "is still biased" toward a US rate cut, however, most central banks in Asia are expected to hike rates. (Source: Bloomberg)
The West Texas Intermediate was up 0.62% at $98.48 per barrel as of 7:50 p.m. ET. Brent crude ended the session at $95.92 per barrel.
Emerging-market stocks are on track for their biggest weekly gain in close to six years ahead of US-Iran talks this weekend, with investors hopeful of further easing in Middle East tensions amid a shaky ceasefire.
President Trump's nomination of Kevin Warsh as Federal Reserve chair already faced a hurdle by Sen. Thom Tillis over a probe of current chair Jerome Powell.
President Trump's nomination of Kevin Warsh as Federal Reserve chair already faced a hurdle by Sen. Thom Tillis over a probe of current chair Jerome Powell.
The West Texas Intermediate was up 0.62% at $98.48 per barrel as of 7:50 p.m. ET. Brent crude ended the session at $95.92 per barrel.