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Goldman Hikes Oil Forecasts Again as Hormuz Shock Builds

Daan Struyven, Goldman Sachs Co-Head of Global Commodities Research, joins Bloomberg Businessweek Daily to discuss his team's latest oil outlook. Struyven and his team upgraded Brent to $90/barrel by the fourth quarter, citing lower Persian Gulf production, and ongoing Strait of Hormuz disruption. They now assume a normalization in Gulf exports by the end of June (vs. a prior forecast of mid-May) and see a slower recovery for Gulf production. However, a global recession is not in the team's base case unless the strait remains mostly closed in a "severely adverse" scenario. Struyven speaks with Carol Massar and Tim Stenovec.

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Bloomberg

Sergey Brin Sparked a Political War to Influence California

Eliyahu Kamisher reports on the latest in the California's race for governor and Sergey Brin's role. It was late in the evening at a Christmas party hosted by crypto titan Chris Larsen featuring singer Janelle Monáe and a towering abominable snowman with glowing red eyes when Brin and his partner, Gerelyn Gilbert-Soto, confronted Newsom about a new proposal to tax billionaires in California, according to people who've spoken with the governor. Such a levy could hit Brin's stake in Alphabet Inc. and his $272.6 billion fortune. Newsom, who opposes the wealth tax, was still telling people about the lengthy exchange at the party months later, complaining of a lingering cold the pair had given him, according to the people, who asked not to be named discussing private conversations with the governor.

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Bloomberg

Iran Foreign Minister Meets Putin As US Talks Stall

Iran's Foreign Minister Abbas Araghchi told President Vladimir Putin he's committed to strengthening the country's partnership with Russia, as talks with the US on ending an eight-week war remain at an impasse. Araghchi said on a visit to Russia that the Iranian people are able to resist "US aggression and will be able to overcome it," Iran state-owned Nour News said on Monday.  Angela Stent, Senior Fellow at the American Enterprise Institute and author, 'Putin's World: Russia Against the West and With the Rest' joins Bloomberg Businessweek Daily to discuss.

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