Oil Fell 15 Percent on a Ceasefire Nobody Has Verified
Brent crude dropped from $109 to $93 on Tuesday night — the market priced peace while shippers were still calculating war-risk insurance for Hormuz transits.
Theo Kaplan
Bureau: San Francisco
The Sanctions Waiver Expires April 19 — Nobody Knows What Happens Next
A 60-day sanctions waiver covering some Iranian oil movements expires April 19; the ceasefire changes who benefits from an extension — and who doesn't.
Futures Are Celebrating. Physical Oil Markets Aren't Ready to Party
Oil futures fell 15% on ceasefire news, but physical crude and refined products remain stressed — a disconnect that traders call 'unnatural' and unsustainable.
Brent Fell 15 Percent on the Ceasefire — the Market Believed It Before Anyone Verified It
Oil's biggest single-session drop in nearly two years came on a ceasefire announcement before any tanker had cleared Hormuz — the market traded the headline, not the supply chain.
Global Stocks Surged on the Ceasefire — the Biggest Single Day Rally Since February
European indices, US futures, and Asian markets all jumped on the ceasefire news — reversing weeks of war-premium erosion in a single session that bet the pause would hold.
OpenAI's CEO Layer Is Thinner Than It Was — Fidji Simo on Medical Leave, Lightcap Running Operations
OpenAI's CEO of Applications Fidji Simo announced she is taking medical leave for several weeks, with COO Brad Lightcap assuming operational oversight — the company's third significant leadership.
Anthropic Bought a Nine-Person Biotech for $400 Million — the Math Makes Sense If You Believe the Timeline
Anthropic acquired Coefficient Bio for roughly $400 million — a nine-person team founded eight months ago by former Genentech researchers. The price reflects a bet on biology as the next major AI.
SpaceX Has Filed Confidentially for an IPO — the Largest in History If It Prices at $1.75 Trillion
SpaceX filed confidentially for an IPO targeting a June 2026 listing at a $1.75 trillion valuation — which would be the largest IPO in history, surpassing Saudi Aramco's 2019 debut.