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On today’s show, oil pares gains as Iraq resumes crude exports through Turkey, avoiding the Strait of Hormuz. The reopening of the Ceyhan pipeline follows a deal with the semi-autonomous region of Kurdistan.
US President Donald Trump has given up on efforts to recruit partners to help secure the Strait of Hormuz and scolded allies who openly rejected his appeals. He described the reaction from NATO allies in particular as a “foolish mistake”.
Bond traders are paring bets against Fed rate cuts this year ahead of today’s decision, which is expected to be a hold. Investors await Chair Jerome Powell’s comments on the impact of the Iran war in his penultimate press conference.
Today’s guest: Dominik von Achten, Heidelberg Materials CEO (Source: Bloomberg)
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