Brent crude surged to $115 a barrel, up 60% since the Middle East war began, as U.S. troop deployments and Trump’s conflicting statements deepen uncertainty. Gas prices hit $3.99 a gallon, risking summer travel disruptions. Analysts warn prolonged conflict could push oil past $150, triggering a global recession.

Private credit funds face scrutiny after WSJ found undisclosed software exposure, with Apollo and Ares funds misclassifying holdings. Treasury Secretary Bessent warns of Main Street risks if Trump pushes adding private credit to retirement accounts. Regulators consider allowing $12 trillion 401(k) plans to invest in volatile assets, sparking political pushback.

Apollo Global explores Texas or Florida HQs, while Mistral AI secures $830 million to expand European data centers. Trump’s AI agenda, backed by a $100M advocacy group, clashes with public concerns over job losses. Meanwhile, U.S. forces reportedly target Iran’s uranium, escalating tensions.

Economists split on recession odds: Goldman Sachs raises slowdown risks, while BlackRock’s Fink cites $150 oil as a recession trigger. The war’s ripple effects—from shaky aluminum supplies to Red Sea shipping threats—underscore a fractured global economy.