Eli Lilly Sounds Alarm on Copycat GLP-1s, Trouble Brewing in Private Credit

Oil prices kept climbing Wednesday, with US crude trading above $90 a barrel and international crude briefly touching $100. The cause: Iran has ramped up attacks on vessels in the Persian Gulf, effectively closing traffic through the Strait of Hormuz. The International Energy Agency just announced the largest emergency oil release in history — 400 million barrels from strategic reserves across 32 member countries, more than double the amount released during the Ukraine war in 2022. But the markets barely reacted. The reason is arithmetic: the Strait of Hormuz closure removes about 20 million barrels per day from global supply, while the strategic reserve release adds only about 5 million barrels per day. That supply gap is why oil keeps climbing. The host noted he's "repeating myself every day at this point," but the situation is straightforward — as long as the Middle East remains unstable and tankers can't pass through Hormuz, markets will stay on edge. He added that he's surprised gold hasn't rallied much since the war started, attributing the flatness to a rallying US dollar and the market pricing in fewer rate cuts.

Eli Lilly's Warning on Copycat GLP-1s