BREAKING: 🇺🇸 US oil prices fall -$15/barrel in under 2 hours, now trading below $104/barrel, on reports that G7 countries are considering releasing 400 million barrels of crude oil reserves.

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🇺🇸 NYC Mayor Zohran Mamdani considers eliminating free parking as city faces $5.4 billion budget deficit.

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🇰🇷 Bank of Korea to buy up to 3T Won of government bonds.

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🇨🇳 Elon Musk says "China is rapidly reducing dependence on oil."

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🚨🚨 This is the 'most severe energy crisis since the 1970s', according to the Wall Street Journal.

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BREAKING: Putin has congratulated Iran's new Supreme Leader Mojtaba Khamenei.

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🛢️🛢️ OIL:

- Crude oil surged by 30% and hit $117

- Reversed gains on reports of G7 countries considering release of emergency reserves, with price falling to $98.

- Now rising again and trading at $102

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🇮🇷 Iran warns oil could hit $200 a barrel if neighbors fail to restrain Trump. “If you can tolerate oil at more than $200 per barrel, continue this game,” said a Revolutionary Guards spokesman.

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🇷🇺🇮🇷 Russian President Putin congratulates Mojtaba Khamenei on being selected Iran's new Supreme Leader.

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🇺🇸 Anthropic sues US government after being labeled a national security risk.

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🇱🇧🇺🇸 Lebanon asked the Trump administration to broker direct peace talks with Israel to end the fighting, according to Axios.

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🇺🇸 United States has more gold than all of BRICS combined, with 8,133 tonnes.

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🚨🚨 World's largest oil company Saudi Aramco cuts production at two oil fields.

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🇺🇸🇮🇷 President Trump signals support for killing Iran's new Supreme Leader Mojtaba Khamenei if he rejects his demands, WSJ reports.

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BREAKING: 🚨🚨 President Trump says Iran will be hit "20 times harder" if they do anything that "stops the flow of oil within the Strait of Hormuz."

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🛢️ Crude oil price

24 hours ago: $117

Now: $85

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BREAKING: Saudi Arabia, Iraq, the UAE and Kuwait have lowered their collective oil output by 6.7 million barrels a day, equivalent to 6% of global supply, according to Bloomberg report.

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🚨🚨 JPMorgan says the S&P 500 could fall by 10%.

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🇺🇸 U.S. national debt is projected to increase by $2.4 trillion annually over the next decade, per the CBO.

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