US-Iran Conflict Sends Oil Prices Soaring Amid Global Supply Fears

Fighting between the US and Iran escalated around the Strait of Hormuz, causing energy prices to surge due to concerns over disrupted global supplies. The renewed conflict has raised fears that further restrictions on crude shipments through the waterway could lead to higher oil prices and inflation.

The US military conducted a second round of strikes in three days, targeting radar systems and mine-laying capabilities along Iran's southern coast. In response, Iran launched drone and missile attacks on US bases across the Middle East.

Waymo is nearing a deal to raise more than $3 billion in debt as Alphabet's autonomous-driving unit seeks additional funding for expansion. The company aims to operate 1 million paid weekly rides across 20 cities globally this year, up from its current 500,000 paid trips each week in 14 US cities.

The conflict has also impacted gold prices, which rebounded from a near one-month low as the US dollar and Treasury yields retreated ahead of key US payrolls data. Brent crude prices rose 0.9% to $95.53 a barrel, while West Texas Intermediate futures gained 70 cents to $90.92.