Podcast: Did we miss the Iran oil shock?

Plus other great stories from Businessweek ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Welcome to the Saturday edition of Businessweek Daily, featuring the Everybody’s Business podcast. Let us know what you think by emailing the editor. If this newsletter was forwarded to you, click here to sign up. It’s been almost 100 days since the US and Israel began a surprise bombing campaign against Iran, and almost 100 days since Iran shut down the Strait of Hormuz in retaliation. When the war began, analysts and experts speculated it wouldn’t last long, with one of the main reasons being simple economics. Cutting off the world from 20 million barrels of oil a day (roughly 20% of global supply) would be an absolute crisis everyone would want to quickly remedy. Bloomberg Opinion columnist Javier Blas has been following the conflict and its effect on global oil markets. He joined the Everybody’s Business podcast just a week into the conflict. Asked then how expensive oil might get if the war dragged on, Blas said if the strait remained closed for more than two months, it would devastate the global economy. “In a truly worst-case scenario, I think that we go north of $200 a barrel,” he said at the time. “We will see massive demand destruction. It would imply an economic shock of the size that the central banks will have to intervene. It’s very ugly.” This week, hosts Max Chafkin and Stacey Vanek Smith bring Blas back to ask him why the global economy hasn’t had the meltdown he (and almost everyone else) imagined. Also this week, Everybody’s Business goes to the movies. Bloomberg News entertainment correspondent Lucas Shaw joins the show to talk about the major movie summer and why he expects this one will be bigger than Barbenheimer. With surprise hits like Backrooms and Obsession coming from two young, YouTube-famous directors, people are excited at the possibilities for bringing social audiences to the big screen. Listen and subscribe on Apple, Spotify, iHeart and the Bloomberg Terminal. Everybody's Business Where’s the Economic Meltdown? More Weekend Reads Johnathon Ervin stands outside the Amazon warehouse in Palmdale, California, from which drivers for his business, Battle-Tested Strategies, delivered millions of packages. Photographer: Stella Kalinina for Bloomberg Businessweek The feds were pushing a landmark case about Amazon’s control of its contract drivers. Then the president put Amazon’s former lawyer in charge. Whole Foods’ CEO Jason Buechel is cautiously optimistic that Amazon has finally cracked grocery delivery. Walmart’s answer to Apple Pay wants to be your favorite financial app. Why a single screwworm parasite found in the US is raising alarm. For better or worse, AI is invading politics at every level this election cycle, from key congressional primaries to mayoral races. Even if the AI demand is there, it may not be possible to build data centers at the pace companies want to. Valve, the anticorporate hero of the games industry, has its antitrust moment. How the Iran war is affecting tropical beach vacation hot spots like the Maldives, Mauritius and the Seychelles. Secondhand clothes are cool just about everywhere, but Japan’s inventory of luxury items makes its offerings extra special. By taking bets on social media clout, prediction markets like Polymarket have made themselves vulnerable to bots. The YouTube creator Markiplier spent years building a devoted audience. Then he used it to bypass the traditional studio system to make a hit film. Can Needoh avoid the fate of other viral toy crazes and stay popular past the current frenzy? The Knicks-Spurs matchup in the NBA Finals features a great brand versus a rising star. On Bloomberg Money: Schwab’s Sonders on the Rise of Casino Culture in Markets New: Get the Bloomberg Money newsletter — insights, ideas and tools for doing more with your money. Play Alphadots! Our daily word puzzle with a plot twist. Today’s clue: Where the winner gets the last word? Play now! We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Businessweek Daily newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |