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Fortune

Jim Edwards

Too much fire, not enough cease: Iran tightens its grip on global oil trade on eve of peace talks

Iran

Photo: A fireball rises from a building hit by an Israeli airstrike in the area of Abbasiyeh, on the outskirts of the southern Lebanese city of Tyre, on April 8, 2026. Lebanon's army warned people against returning to the country's south on April 8, where the Israeli military is still launching attacks, as Israel said the ceasefire with Iran did not include its conflict with Hezbollah. (Photo by Kawnat HAJU / AFP via Getty Images) (Credit: Photo by Kawnat HAJU / AFP via Getty Images)

**Good morning. On Fortune’s radar today:**

Markets: Post-rally selloff underway.
Iran: It’s not going well.
David Zaslav’s $887 million golden parachute.
$1 trillion: The amount of capex needed to make AI work.
Kalshi trading volume hits $3 billion a week.
Live map shows ships avoiding the Strait of Hormuz.

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