CNBC Technology·2 min read

Strait of Hormuz blockade, Goldman Sachs earnings, AI cybersecurity and more in Morning Squawk

U.S. imposes blockade on Strait of Hormuz amid rising tensions.

Oil prices surged sharply after President Donald Trump announced a blockade of the Strait of Hormuz, effective today, following unsuccessful peace talks with Iran. The blockade, confirmed by U.S. Central Command, aims to restrict all maritime traffic to and from Iranian ports, significantly impacting global oil markets and contributing to a 7% rise in crude prices.

Key Takeaways

  • 1.

    Crude oil prices increased by 7%, surpassing $100 per barrel.

  • 2.

    Goldman Sachs reported a 2% drop in shares despite earnings beat.

  • 3.

    U.K. Prime Minister Keir Starmer declined to support the U.S. blockade.

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Strait of Hormuz blockade, Goldman Sachs earnings, AI cybersecurity and more in Morning Squawk | Trace