Oracle's shares jumped 9 per cent after the database giant posted better-than-expected earnings, with strong revenue forecasts from AI data centers driving investor optimism. The earnings beat comes as American businesses across sectors grapple with soaring energy prices that are squeezing margins and forcing operational adjustments.

Energy market volatility has created ripple effects throughout the corporate world, with tanker insurance costs surging for vessels navigating the Strait of Hormuz. Lloyd's of London reports it will continue insuring ships in the Gulf despite heightened geopolitical risks, though at significantly higher premiums. The insurance market's response underscores how energy price swings are reshaping global trade flows.

Beyond energy markets, investors are pulling back from private credit funds amid rising concerns about bad loans, with retail investors particularly shunning vehicles like Blue Owl following recent gating events. The flight from private credit highlights how interconnected market stress has become, as companies face pressure from both energy costs and tightening financial conditions.