News
Singapore Ship Sinks Amid Rising Hormuz Tensions
A Singapore‑registered container ship, the GFS Pride, was sunk after being hit by an unidentified projectile in the Strait of Hormuz, with 21 crew evacuated safely; a second vessel, GFS Giselle, was damaged but reached safe anchorage. Iran warned it could strike U.S. warships, while U.S. Central Command disputed Iranian control. The incidents pushed Brent crude to $106.06/barrel and WTI to $95.09, contributing to higher U.S. inflation (CPI up 3.7% YoY). Markets fell, with the S&P 500 down 1.11% and Nasdaq 1.88%. The newsletter also noted Netflix layoffs (~6%) and legal actions against OpenAI, plus G20 finance ministers meeting in Bangkok.