{"id":62022,"date":"2026-05-16T23:38:16","date_gmt":"2026-05-17T03:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-crisis-deepens-as-strait-of-hormuz-closure-revives-coal-blackrock-eyes-10b-spacex-stake\/62022\/"},"modified":"2026-05-16T23:38:16","modified_gmt":"2026-05-17T03:38:16","slug":"global-energy-crisis-deepens-as-strait-of-hormuz-closure-revives-coal-blackrock-eyes-10b-spacex-stake","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-crisis-deepens-as-strait-of-hormuz-closure-revives-coal-blackrock-eyes-10b-spacex-stake\/62022\/","title":{"rendered":"Global Energy Crisis Deepens as Strait of Hormuz Closure Revives Coal; BlackRock Eyes $10B SpaceX Stake"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Global LNG supplies have plummeted by 20%<\/strong> following the effective closure of the <strong>Strait of Hormuz<\/strong> due to the Iran war, triggering a massive global resurgence in <strong>coal demand<\/strong>.<\/li>\n<li><strong>BlackRock (<a href=\"\/stock\/BLK\">BLK<\/a>)<\/strong> is reportedly in talks to invest up to <strong>$10 billion<\/strong> in a record-breaking IPO for <strong>SpaceX<\/strong>, marking a significant milestone for the private space sector.<\/li>\n<li><strong>European military equipment prices have surged 50%<\/strong>, according to Estonian officials, as the continent scrambles to rearm amid escalating regional conflicts.<\/li>\n<li><strong>The World Health Organization (WHO)<\/strong> has declared a <strong>public health emergency<\/strong> in Congo as an Ebola outbreak has claimed at least <strong>80 lives<\/strong>.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> jumped<\/strong> significantly after Indian Prime Minister Narendra Modi urged reduced purchases and import duties were raised, while <strong>Bank of America (<a href=\"\/stock\/BAC\">BAC<\/a>)<\/strong> and <strong>Wells Fargo (<a href=\"\/stock\/WFC\">WFC<\/a>)<\/strong> saw shares slide on renewed inflation fears.<\/li>\n<\/ul>\n<h2>Energy Markets and Commodity Shifts<\/h2>\n<p>The global energy landscape has been upended as <strong>coal makes a dramatic comeback<\/strong> following the closure of the <strong>Strait of Hormuz<\/strong>. The conflict involving Iran has effectively cut off approximately <strong>20% of the world\u2019s liquefied natural gas (LNG) supply<\/strong>, forcing utilities to pivot back to carbon-intensive fuels to maintain power grids.<\/p>\n<p>In a further tightening of global energy markets, the <strong>US Treasury<\/strong> has allowed a sanctions waiver on <strong>Russian seaborne oil<\/strong> to lapse. This move is expected to further constrain supply and increase price volatility as Western nations ramp up pressure on Moscow following recent drone strikes in the Russian capital.<\/p>\n<p><strong>Gold prices<\/strong> saw a sharp move upward today as <strong>India<\/strong> introduced higher duties and Prime Minister Narendra Modi called for a reduction in gold consumption. Meanwhile, <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a><\/strong> markets experienced high volatility as investors sought safe-haven assets amidst the deepening Middle Eastern crisis and shipping disruptions.<\/p>\n<h2>Corporate Finance and Technology<\/h2>\n<p><strong>BlackRock (<a href=\"\/stock\/BLK\">BLK<\/a>)<\/strong> is currently in negotiations to lead a massive <strong>$10 billion investment<\/strong> in <strong>SpaceX<\/strong> ahead of what is being described as a record-setting IPO. The deal would represent one of the largest private-to-public transitions in history, signaling strong institutional confidence in the aerospace giant\u2019s long-term dominance.<\/p>\n<p><strong>Citadel<\/strong> founder <strong>Ken Griffin<\/strong> issued a stark warning regarding the rapid evolution of <strong>Agentic AI<\/strong>, noting that the technology is now <strong>automating elite finance jobs<\/strong> in hours rather than months. This shift is expected to radically transform the labor structure of Wall Street, potentially displacing high-level analysts and traders.<\/p>\n<p>In Asia, <strong>Samsung Electronics (<a href=\"\/stock\/SSNLF\">SSNLF<\/a>)<\/strong> is facing labor instability as the South Korean government warns of <strong>emergency arbitration<\/strong>. The Prime Minister stated that the government would intervene if ongoing strikes cause significant damage to the national economy or global semiconductor supply chains.<\/p>\n<h2>Geopolitical Instability and Military Costs<\/h2>\n<p>Europe is facing a fiscal crisis in defense spending, with <strong>Estonia<\/strong> reporting a <strong>50% rise in the price of military gear<\/strong>. The surge is attributed to supply chain bottlenecks and a desperate rush by EU member states to replenish stockpiles as regional security threats intensify.<\/p>\n<p>Conflict in the Middle East continues to escalate as <strong>Israeli airstrikes<\/strong> targeted multiple locations across southern Lebanon. The Israeli military also confirmed it has killed the <strong>last remaining Hamas chief<\/strong> responsible for overseeing the October 7 attacks, even as settler violence in the West Bank forces Palestinian villagers to abandon their homes.<\/p>\n<p>In the United States, political shifts continue to favor the populist wing of the GOP. <strong>Bill Cassidy<\/strong> lost his Louisiana primary, a result widely viewed as a demonstration of <strong>Donald Trump\u2019s<\/strong> enduring hold over the Republican party. Financial disclosures also revealed that Trump made over <strong>3,700 trades<\/strong> in the first quarter of the year.<\/p>\n<h2>Global Health and Regional Developments<\/h2>\n<p>The <strong>WHO<\/strong> has officially declared a <strong>public health emergency<\/strong> in the Democratic Republic of Congo due to an <strong>Ebola outbreak<\/strong> that has killed at least 80 people. While the organization clarified that the outbreak is not yet classified as a pandemic, the rapid spread has triggered international concern and a mobilization of medical resources.<\/p>\n<p><strong>Cuba<\/strong> is currently grappling with widespread protests as its power grid fails, leading to <strong>blackouts lasting up to 22 hours<\/strong>. The Cuban government has blamed a &quot;US energy blockade&quot; for surgical delays affecting <strong>100,000 patients<\/strong>, while the US has increased pressure for &quot;fundamental changes&quot; on the island.<\/p>\n<p>In the banking sector, <strong>Bank of America (<a href=\"\/stock\/BAC\">BAC<\/a>)<\/strong> and <strong>Wells Fargo (<a href=\"\/stock\/WFC\">WFC<\/a>)<\/strong> saw their shares extend losses as investors fear that persistent inflation will lead to &quot;higher-for-longer&quot; interest rates. These fears are compounded by the rising costs of energy and the potential for a broader economic slowdown in the wake of the Strait of Hormuz closure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Global LNG supplies have plummeted by 20% following the effective closure of the Strait of Hormuz due to 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