Bloomberg — 2026-04-18#

Lead Story#

Iran abruptly shut down the Strait of Hormuz to maritime traffic and broadcast warnings to vessels, undermining President Donald Trump’s earlier claims that a peace agreement to end the seven-week conflict was imminent. The closure threw global energy markets back into disarray, forcing Greek and Indian oil tankers as well as LNG carriers to make abrupt U-turns, while the US military prepared to board and seize Iran-linked commercial ships in international waters.

Markets & Economics#

• [Federal Agency Probes Suspicious Oil Trades Made Before Trump Pivots] (Bloomberg): The US Commodity Futures Trading Commission is investigating a series of incredibly well-timed trades in the oil futures market that occurred just ahead of the White House’s recent policy shifts.
• [IMF Trims World Growth Projections on Oil Shock] (Bloomberg): The International Monetary Fund has cut its global growth forecast for 2026, warning that the cumulative impact of the Middle East war and shattered energy infrastructure is reviving stagflation dangers worldwide.
• [ECB Moves Away From April Hike as Peace Talks Progress: Overview] (Bloomberg): European Central Bank officials departed Washington slightly more optimistic than they arrived, betting that a resumption of Gulf energy shipments could ease inflation and make an interest rate hike this month less necessary.
• [Strong Earnings Results Can’t Save Stocks from Dimming Forecasts] (Bloomberg): Despite a massive monthly rally that pushed the S&P 500 to fresh records and a robust first-quarter earnings season, equity strategists are warning that corporate outlooks are beginning to fade.

Business & Industries#

• [Fermi Shares Plunge After Announcing Departure of CEO] (Bloomberg): Shares of the developer behind a massive planned AI campus in Texas plummeted 31% in post-market trading following the abrupt and immediate exit of co-founder and Chief Executive Officer Toby Neugebauer.
• [The Jet-Fuel Surge Is Making Global Flight Connections Disappear] (Bloomberg): Airline passengers are bracing for more headaches as carriers worldwide are forced to deepen cancellations and ground aircraft to cope with stratospheric increases in jet-fuel prices.
• [India’s HDFC Bank Beats Estimates as Loan Growth Stays Strong] (Bloomberg): India’s largest private sector lender posted better-than-expected results, a trend echoed by rival ICICI Bank, demonstrating that credit demand in the country remains highly robust despite broader global macroeconomic fears.
• [Nexstar-Tegna Deal on Hold Until Final Court Ruling, Judge Says] (Bloomberg): A federal judge in California has ordered Nexstar Media Group to keep Tegna operating as a separate entity pending a final judgment on a contentious merger that would create the largest local TV operator in the US.
• [Rubis Said to Weigh Combination With Trafigura’s Puma Fuel Unit] (Bloomberg): French fuel distributor Rubis SCA is reportedly exploring a strategic tie-up with Trafigura Group’s retail business, Puma Energy, to significantly expand its geographic footprint.

Policy & World#

• [Trump Signs Order Easing Restrictions on Psychedelic Drugs] (Bloomberg): President Trump has issued an executive order to fast-track research and increase access to psychedelics used outside the United States for treating post-traumatic stress disorder.
• [Orban Loss, Meloni Setback Signal Left’s EU Return, Ribera Says] (Bloomberg): The resounding defeat of Viktor Orban by Peter Magyar’s Tisza party in Hungary serves as a stark warning to conservative European leaders leaning toward alignment with Trump or Vladimir Putin.
• [Ukraine Says It Hit Three Russian Warships in Crimea With Drones] (Bloomberg): A Ukrainian special operations unit successfully damaged three Russian naval ships via drone strikes, complementing a separate overnight attack that ignited a massive blaze at Russia’s Baltic Port of Vysotsk.
• [Peru Delays $2 Billion F-16 Deal, Drawing US Backlash] (Bloomberg): The US government issued veiled criticism after the Andean nation unexpectedly canceled a contract-signing ceremony for a $2 billion purchase of Lockheed Martin F-16 fighter jets.

Opinion & Analysis#

• [The Live Nation Fight Is Over Yesterday’s Technology] (Bloomberg): While frustrated concertgoers celebrate a monopoly verdict against Live Nation and focus on potential divestments like Ticketmaster, antitrust regulators are once again chasing the past instead of focusing on the genuine disruptions looming from artificial intelligence.
• [So What Is the Real Oil Price Right Now?] (Bloomberg): Pinpointing a single dollar-per-barrel price during geopolitical crises is a fool’s errand, as the “real” price depends heavily on the specific crude grade, timing, and geographic location being discussed.
• [Alex Imas on Why Economists Might Be Getting AI Wrong] (Bloomberg): Contrary to historical trends where legacy technology like the steam engine eventually created massive job growth and structural balance, artificial intelligence poses a fundamentally different, and potentially far deeper, threat to labor markets.