Daily Digest — 7 Apr 2026

Oil prices surged over 3% to nearly $116 as Trump’s deadline for Iran to reopen the Strait of Hormuz approaches Tuesday night, with the US president threatening to target Iranian power infrastructure if no agreement is reached. Iran has reportedly rejected a US-mediated ceasefire proposal, while US and Israeli forces struck a synagogue in Tehran, escalating tensions further. S&P 500 futures tumbled as markets priced in the risk of wider conflict affecting global energy supplies.

Crypto markets retreated from Monday’s ceasefire rally, with Bitcoin, Ethereum, and Solana all falling as geopolitical uncertainty returned. Bitcoin miners face additional headwinds as Anthropic signed a multi-gigawatt computing deal with Google and Broadcom for 2027, intensifying competition for cheap electricity that miners depend on for profitability.

In the UK, a six-day doctors’ strike began over training post cuts, while manufacturers face £940 million in additional business rates from recent government changes. Meanwhile, SpaceX is reportedly preparing for an IPO roadshow targeting early June, as the space sector continues attracting investor interest despite broader market volatility.