Oil hits $108 ahead of Iran’s meeting with Gulf states
Summary
US long-term borrowing costs surged to 20-year highs as oil prices spiked to $108 amid escalating US-Iran tensions and Houthi attacks on Saudi infrastructure. Gulf nations are meeting with Tehran to negotiate temporary shipping protocols for the Strait of Hormuz to stabilize energy supplies. Meanwhile, Virgin Media O2 faces pressure to cut £600 million in costs due to heavy debt and competition. The episode also covers the BRICS summit in New Delhi, where leaders discuss development and payment systems while navigating internal geopolitical divisions and the absence of US global leadership.
Topics discussed
Sponsor: Hard Lessons podcast
Introduction and top headlines
US bond yields surge and oil prices rise
Gulf states and Iran talks on Strait of Hormuz
Virgin Media O2 cost cuts and debt concerns
BRICS summit in New Delhi: goals and challenges
Announcement of new host Josh Gilbert Doion
Credits and production team
Sponsor: Washington Wise podcast
Sponsor: Serval IT automation
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