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Rising tensions in the Middle East are sending shockwaves through global markets, as Iran’s new leader reportedly vows to keep the Strait of Hormuz closed, threatening a key artery for international energy shipments. The resulting disruption has pushed oil prices toward $100, with OPEC ramping up production in an effort to stabilize supply amidst escalating conflict and uncertainty.

Amid these geopolitical shifts, SpaceX has assumed control of xAI, following the departure of several co-founders, as Elon Musk initiates a major company overhaul. Meanwhile, Adobe CEO Shantanu Narayen announces his resignation, coinciding with a disappointing financial forecast and continued stock declines. In the entertainment world, the 98th Academy Awards shine a spotlight on international films and emerging talent, reflecting new industry perspectives ahead of the ceremony.

Developing: Authorities are investigating the Old Dominion University shooting as terrorism, with details about the suspect and motive still emerging.