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Crypto Breaking News

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Bloomberg

Hormuz Oil Shock Spreads West as Strait Remains Closed

Eric Nuttall, senior portfolio manager at Nine Point, said that oil disruption from war with Iran is projected to be worse than during the COVID pandemic as the Strait of Hormuz remains closed. Nuttall said that the oil companies are quickly working their way through the buffer supply of oil and expects that it will lead to physical shortages of oil barrels.

Read more: Hormuz Oil Shock Spreads West as Strait Remains Closed
Bloomberg

Troops in MidEast Give US Options, Leverage in Talks, Says Ret. Maj. Gen. Robeson

Retired Marine Corps Major General Mastin Robeson said that increased troops sent to the MidEast means that the US has 'positioned sufficient assets' to be able to enact leverage over negotiations to open the Strait of Hormuz and end the war with Iran. Robeson also discussed how the war has impacted the US relationship with China, as Xi moves to invite Taiwan's opposition leader for a meeting ahead of the scheduled Trump, Xi meeting in May.

Read more: Troops in MidEast Give US Options, Leverage in Talks, Says Ret. Maj. Gen. Robeson
Bloomberg

Big IPOs Set to Gain Fast Entry to Nasdaq 100

Todd Rosenbluth, head of research at TMX VettaFi, joins Katie Greifeld, Scarlet Fu, and Eric Balchunas on "Bloomberg ETF IQ." Nasdaq will enact a rule change designed to slash the time it takes for newly listed, large-cap companies to enter its main index, a move that will give shares of behemoths like SpaceX a faster route into funds that are pegged to the benchmark.

Read more: Big IPOs Set to Gain Fast Entry to Nasdaq 100
Bloomberg

Price of Gas Central to Midterm Elections, Ipsos's Cliff Young

Joe Mathieu and Kailey Leinz speak with Cliff Young, Ipsos US Public Affairs Chair and Professor at Texas A&M University's Bush School of Government and Public Service. Oil prices rose after President Donald Trump threatened attacks on Iran's energy infrastructure, overshadowing his comments that a deal to end hostilities in the Middle East could be close.  West Texas Intermediate futures rose more than 3% to trade near $103 a barrel, while the most active June Brent futures climbed to trade above $107 a barrel.  Brent futures were volatile amid thin liquidity, with traders increasingly staying on the sidelines to avoid extreme headline-driven price swings. Front-month May futures fluctuated as investors closed out those positions ahead of the contract's expiration on Tuesday the price was near $112 a barrel.

Read more: Price of Gas Central to Midterm Elections, Ipsos's Cliff Young