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Jenny Wood

Jenny Wood

CNBC7 days ago

Jenny Wood is a New York Times bestselling author, speaker, former Google executive, and former Harvard Business School researcher. Her goal is to empower ambitious people to break the mold, be better leaders, build influence, and reach their full potential. In her new book "Wild Courage: Go After What You Want and Get It," Jenny breaks down nine bold traits that defy conventional career advice. Jenny is the founder of Own Your Career, one of Google's largest career programs. She has been featured in NBC, Bloomberg, Harvard Business Review, Forbes, and Business Insider. She lives in Boulder, Colorado with her husband and two children and is in constant pursuit of the perfect zucchini bread recipe.

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傳蘋果將捨棄Google合作 將收購AI搜尋黑馬Perplexity
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Strait of Hormuz becomes flashpoint in US-Iran conflict
Strait of Hormuz becomes flashpoint in US-Iran conflict

The Hill

time5 hours ago

  • The Hill

Strait of Hormuz becomes flashpoint in US-Iran conflict

The Iranian Parliament on Sunday approved a measure to close the Strait of Hormuz after the United States bombed three nuclear sites in Iran. The strait, located between Iran and Oman, remains a critical oil choke point, and closing it could have serious implications for both the global and U.S. economy. Secretary of State Marco Rubio, in several Sunday interviews, warned against shutting down the strait, calling the move 'suicidal' for the regime. Rubio also called on China — Iran's most crucial oil customer — to encourage the country against shutting it down. 'I encourage the Chinese government in Beijing to call them about that, because they heavily depend on the Straits of Hormuz for their oil,' Rubio said on Fox News's 'Sunday Morning Futures with Maria Bartiromo.' Iran's Supreme National Security Council will ultimately decide on the move. The threat to block the narrow waterway comes in response to U.S. strikes on three nuclear sites in Natanz, Esfahan and Fordow, located inside a mountain. The Trump administration has argued the strikes, dubbed 'Operation Midnight Hammer, 'were a monumental success.' But it is unclear how much the sites were damaged or how it has set back Iran's nuclear program. The Strait of Hormuz's width and depth allow it to handle the world's largest crude oil tankers, and very few alternatives exist if it is closed, according to the U.S. Energy Information Administration (EIA). Approximately 20 million barrels, or 20 percent of global consumption, flowed through the strait in 2024. More than 80 percent of the crude oil and natural gas that passed through the Strait of Hormuz in 2024 was destined for Asian markets, with China, India, Japan and South Korea being the top recipients. These countries would likely be the most affected by any closure. But the U.S. market would also feel some impact if the strait were disrupted. The U.S. has been buying less oil from the Persian Gulf — importing about 0.5 million barrels per day in 2024, according to the EIA. Still, consumers are businesses are still likely to see increased prices, given that oil is traded globally. And it could take months for U.S. oil companies to drill more to compensate for those increased prices, the New York Times reports. Oil prices in the past month increased due to the escalating Israel-Iran conflict, and these are estimated to climb further if Iran were to block the strait. Experts have said they estimate oil prices could increase from $73 per barrel up to $120 per barrel if tankers are blocked. 'If we see any throttling back of the Strait of Hormuz, we'll see a massive increase in the price of oil, and that will impact everything in the U.S.,' Ramanan Krishnamoorti, a professor of petroleum engineering at the University of Houston, told ABC News this month. Iran has previously seized or interfered with tankers during heightened political tensions, according to the New York Times. While Iran's Supreme National Security Council has yet to make a decision, some experts are skeptical that the country will actually close down the Strait of Hormuz. Experts say the move would likely lead to a near-immediate response from the U.S., and it would be self-defeating to Iran's own market.

The Big Question Facing Energy Markets: Will Iran Disrupt Oil and Gas Flows?
The Big Question Facing Energy Markets: Will Iran Disrupt Oil and Gas Flows?

New York Times

time7 hours ago

  • New York Times

The Big Question Facing Energy Markets: Will Iran Disrupt Oil and Gas Flows?

The biggest question facing global energy markets is whether Iran will respond to the U.S. bombing of its nuclear facilities by disrupting the flow of oil and natural gas in the Persian Gulf region. The economic toll would be steep, including for Iran. That is because a large portion of the world's oil and liquefied natural gas, or L.N.G., passes through the Strait of Hormuz, a waterway that hugs a portion of Iran's southern border. Any attempt to close the strait, which connects the Persian Gulf to the Gulf of Oman, would most likely send oil prices soaring. It would also inflict severe economic damage in Iran because nearly all of the country's oil exports move through the channel. The market's early reaction to the U.S. bombing of three Iranian nuclear sites over the weekend will become clear on Sunday evening, when crude oil futures begin trading at 6 p.m. Eastern time. U.S. oil prices have climbed around 15 percent in the past two weeks, settling on Friday at $74.93. That is a moderate price by recent standards. But if Iran were to try to stop oil from flowing through the region, even temporarily, prices would most likely rise far higher, analysts have said. Another risk is if Iran were to attack U.S. military bases in the Middle East. Notes: Data shows future contract prices for West Texas Intermediate light sweet crude oil. Data delayed at least 15 minutes. Source: FactSet By The New York Times Data includes crude oil and condensate Source: U.S. Energy Information Administration analysis based on Vortexa By The New York Times Want all of The Times? Subscribe.

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