Oil CEOs Warn of Supply Shock, Morgan Stanley & BlackRock Limit Withdrawals And More: This Week In Economy

As the week wraps up, let’s take a look at some of the most significant stories that unfolded in the world of finance and commodities. Energy CEO Warns Of Next Oil Supply Shock Robert Price, CEO of March GL and incoming CEO of Greenland Energy Co., has raised concerns about the potential for a future oil supply shock. This comes in the wake of recent tanker attacks and vessel rerouting near the Strait of Hormuz, which have highlighted the vulnerability of global energy flows. United States Oil Fund (NYSE:USO) stock is currently showing positive momentum. Read the full article here. Morgan Stanley, BlackRock Limit Withdrawals Morgan Stanley (NYSE:MS) has joined the ranks of Wall Street giants imposing restrictions on redemptions. The company limited withdrawals from its North Haven Private Income Fund (PIF) after investors sought to withdraw nearly 11% of shares. This move follows a similar decision by BlackRock Inc. (NYSE:BLK), which restricted withdrawals from its $26 billion HLEND fund after redemption requests hit 9.3% of net asset value. Read the full article here. Goldman Sachs Raises Oil Price Forecasts The U.S.-Iran war has resulted in what Goldman Sachs (NYSE:GS) now considers the most significant oil supply shock on record. The disruption in Persian Gulf exports, as indicated by vessel count data, has fallen to around 3% of normal levels at the Strait of Hormuz. This has led Goldman to upgrade its Brent crude price forecast, citing a longer assumed disruption and a more complex global policy response than their initial models projected. Read the full article here. Michael Burry Predicts Market Crash In his Substack analysis, investor Michael Burry warned that the market has become entirely “unmoored from historic valuation measures.” He attributes this to the surge of passive index funds, which now control over 60% of equity fund assets. Burry predicts that as forced withdrawals accelerate, the market will face relentless, price-agnostic selling pressure. Read the full article here. Kevin O’Leary Warns Of Hormuz Disruption Investor and “Shark Tank” personality Kevin O’Leary has cautioned that escalating tensions around the Strait of Hormuz could have significant global economic consequences. O’Leary suggested that, absent these tensions, crude would likely trade between $55 and $70 per barrel, a level where “the economy works just fine.” Read the full article here. Photo courtesy: Taljat David via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.