Goldman Sachs said on April 24 that about 14.5 million barrels per day of Gulf crude — roughly 57% of pre‑conflict supply — was offline in April as the U.S.-Iran war and related maritime disruption around the Strait of Hormuz sharply curtailed shipments. The bank and other forecasters estimate a partial recovery is possible if the strait is safely and sustainably reopened: around 70% of lost output could return within three months and roughly 88% within six months. But recovery will be constrained by logistics and well performance. Available empty tanker capacity in the Gulf has fallen by about 130 million barrels (roughly 50%), limiting how quickly producers can move crude once exports resume. Prolonged shut‑ins risk eroding flow rates in lower‑pressure reservoirs and may require workovers, with Iran and Iraq facing greater recovery challenges than Saudi Arabia and the UAE, which have more spare capacity. The disruption has tightened markets and pushed Brent above $100 a barrel (near $106), reflecting rising near‑term supply risk and elevated price volatility.

WASHINGTON, April 24, 2026 — The U.S. Justice Department announced it is closing its criminal investigation into Federal Reserve Chair Jerome Powell, U.S. Attorney for the District of Columbia Jeanine Pirro said on April 24. Pirro referred questions about cost overruns on the Fed’s Washington headquarters renovation — costs that rose from an initial estimate of about $1.9 billion to roughly $2.46–$2.5 billion — to the Fed’s Office of Inspector General, which has been reviewing the project since July 2025 and previously issued audits in 2021 and 2022. A federal judge in March quashed subpoenas tied to the probe, saying prosecutors had shown “essentially zero evidence” of criminality. The move removes a key obstacle to President Donald Trump’s nominee, Kevin Warsh, who is seeking Senate confirmation to succeed Powell when his chair term ends May 15. Senator Thom Tillis had been withholding support pending the probe’s closure. Pirro said her office could reopen a criminal investigation depending on the inspector general’s findings.

U.S. consumer sentiment plunged to an all-time low in April as the University of Michigan’s Surveys of Consumers showed the final Consumer Sentiment Index at 49.8 on April 24, down from 53.3 in March and slightly above an earlier preliminary reading of 47.6. The deterioration was broad-based across ages, income levels and political affiliations. One-year inflation expectations jumped to 4.7% from 3.8% in March, while five-year expectations rose to 3.5%. The survey, conducted March 24–April 20, linked the slide mainly to inflation fears stemming from the U.S.-Israel war with Iran and disruption of shipping through the Strait of Hormuz, which lifted oil and commodity prices and kept gasoline and diesel elevated (around $4 and over $5 per gallon, respectively). Though retail spending and tax refunds have so far supported consumption, economists warned higher fuel and transport costs could erode real disposable income and weigh on discretionary spending. The report noted a modest late-month sentiment recovery after a temporary ceasefire, but said sustained improvement likely depends on easing supply constraints and lower energy prices.

Lyft said on April 24, 2026 that it has agreed to buy the U.K. arm of Gett, a leading London black cab app, in a deal expected to close in the coming weeks subject to customary conditions. Media reports value the transaction at roughly $55 million. The move is Lyft’s third major international acquisition in under a year, following its purchase of Freenow (reported around €175m) and Scotland-based TBR Global Chauffeuring (about $110m). Gett’s platform already connects riders to an estimated three-quarters of Greater London’s licensed black cab drivers and brings enterprise contracts with major corporates and public bodies. Lyft says the deal will fold Gett into its Freenow operation in Europe and will not alter full-year 2026 guidance, though it will affect second-quarter figures. The company frames the acquisition as part of a broader strategy to offer a full ground-transport ecosystem in London — from black cabs and private hire to bikes and future autonomous vehicle testing — while positioning itself as the dominant app for the city’s storied taxi trade.

Canada’s federal government on April 24 approved Enbridge Inc.’s $4 billion Sunrise Expansion Program to grow its Westcoast natural gas transmission system in British Columbia. The project will add about 139 kilometres of new pipeline in 11 looping segments and increase capacity by roughly 300 million cubic feet per day (about a 17% boost on the T‑South system). Construction is slated to begin in July 2026 with a targeted in‑service date in late 2028. The Canada Energy Regulator’s sign‑off includes 47 binding conditions on environmental, safety and Indigenous engagement. Enbridge and Ottawa estimate the expansion will support up to 2,500 construction jobs, contribute more than C$3 billion to GDP and generate around C$700 million in new federal and provincial tax revenue. The project is intended to shore up regional energy security for British Columbia and the U.S. Pacific Northwest and to support LNG export facilities coming online, including Woodfibre LNG. Enbridge previously sold a 12.5% stake in the Westcoast pipeline to the Stonlasec8 Indigenous Alliance in 2025 and the consortium has pro rata options to join the expansion.