Monica Ricks

They called it self-defense after Iran downed an Army helicopter earlier this week.

Oil dropped 3 percent to end the week, and gas is a little cheaper this morning on hopes for a peace agreement with Iran.

For now, though, Energy Secretary Chris Wright says roughly 7 million barrels of daily oil and fuel shipments are flowing through the Strait of Hormuz.

That's about half the volume left stranded there at the start of this war.

Wright tells Bloomberg the U.S.

will fully reopen the waterway with or without Iran's help, but the two sides may sign a deal on the sidelines of the G7 summit next week.

President Trump says the U.S.

has killed the leader of a Venezuelan drug cartel known as Tren de Aragua.

We get more on that from Bloomberg's Ed Kalecki.

Workers started removing President Trump's name from the Kennedy Center early this morning, hours after a court-ordered deadline to clear his name from the building.

The Kennedy Center had requested more time due to thunderstorms.

SpaceX ended its first day on the stock market at $2.1 trillion, making it one of the world's most valuable public companies and handing buyers of its IPO a 19% return.

Data Trek research co-founder Nick Kolas says it's a big bet on Elon Musk.

The IPO makes Musk the world's first trillionaire.

He's now three times richer than his closest rival.

Artificial intelligence giant Anthropic took its latest AI models offline overnight to comply with a directive from the Trump administration to prevent their use by foreign nationals.

The company had just released Fable 5 this week.

It was a limited version of Mythos, which the company had widely held back due to cybersecurity fears.

And the Justice Department has cleared the way for Paramount Skydance to buy Warner Brothers Discovery.

It closed its antitrust probe yesterday, saying the deal isn't likely to hurt competition.