Karen Moscow

NYMEX crude is at $99.43 a barrel.

Brent at $98.71.

Anthony DiPiola covers the energy markets for Bloomberg.

And Bloomberg's Anthony DiPaola says even once Hormuz transit picks up, it could take weeks or possibly longer to return to normal.

And this all comes as Iran's deputy minister said oil tankers and other vessels seeking to transit the Strait of Hormuz must get the army's consent to ensure their safe passage.

A Democratic lawmaker is calling on Wall Street's top regulators to investigate unusual trading activity in oil and equity futures markets shortly before President Trump postponed military strikes against Iran last month.

New York Representative Richie Torres sent a letter to the heads of the Securities and Exchange Commission.

and the Commodity Futures Trading Commission.

Billions of dollars in futures changed hands shortly before President Trump announced the postponement, with financial contracts tied to at least six million barrels of oil being sold in a two-minute period.

The U.K.

warning Vladimir Putin against damaging Britain's undersea cables and pipelines after a month-long operation to track three Russian submarines in nearby waters.

UK Defense Secretary John Healey says a frigate, planes and hundreds of personnel monitored a Russian attack sub and two spy submarines near undersea infrastructure north of the UK.

He said the Russian vessels eventually left after the operation that lasted more than a month.

There may be labor peace at FedEx.

Pilots have reached a tentative labor agreement with the company, marking a significant step toward resolving nearly five years of negotiations.

The Wall Street Journal reporting that Disney is planning to cut as many as 1,000 positions in the coming weeks.

Many will be in the company's marketing department.

OpenAI said it's pausing its Stargate artificial intelligence infrastructure project in the U.K.

This as it reins in ambitious spending plans ahead of a highly anticipated public listing.

CoreWeave has expanded its deal to supply artificial intelligence computing power to meta-platforms to $21 billion.