•The Trump administration announced a $20 billion reinsurance program through the U.S. International Development Finance Corporation to cover oil tanker losses.
•U.S. crude oil prices surged more than 12%, topping $90 per barrel.
•Tanker traffic in the Persian Gulf has reached a standstill due to the ongoing war with Iran.
•Iraq has already begun shutting in production as exports through the Strait of Hormuz become increasingly constrained, with roughly 1.5 million bpd offline.
•The production shut-in could reach 3 million bpd if disruptions persist, representing a massive supply shock.
•China and India together account for roughly two-thirds of Iraqi oil flows, making Iraq a critical supplier for Asia.
•The Trump administration launched military strikes on Iran dubbed 'Epic Fury'.
•Bill Kristol criticized the administration for 'inventing imminent threats' to justify war, despite his long history of advocating for regime change in Iran.
•Reports indicate Americans are stranded in conflict zones as a result of the military escalation.
•Frontera Energy's board determined that a binding offer from Parex Resources is a 'Superior Proposal' compared to the previous agreement with GeoPark.
•The offer involves the acquisition of all of Frontera's upstream Colombian exploration and production business.
•Frontera had previously agreed to sell these assets to GeoPark under an agreement dated January 29, 2026.
•Broadcom (AVGO) reported its quarterly earnings, sparking positive comparisons with Nvidia.
•CNBC's Kristina Partsinevelos stated that Broadcom succeeded in explaining aspects of its performance or strategy that Nvidia could not clearly articulate.
•The Supreme Court of British Columbia issued a final order approving the plan of arrangement for affiliates of Kingswood Capital and Forager Capital to acquire Quipt Home Medical.
•Shareholders will receive cash consideration of US$3.65 per share.
•The arrangement is expected to be completed by March 16, 2026, pending satisfaction of remaining conditions.
•Cleveland Fed President Beth Hammack said the central bank may have to weigh tighter monetary policy if inflation does not retreat toward the 2% target later this year.
•Hammack pointed to uncertainty stemming from potential oil shocks that could affect the inflation trajectory.
