Brent crude punched through $71.7 while WTI hit $66.7 a barrel after President Trump said he will decide “within 10 days” on striking Iran, a choice now priced by traders as a 70 per-cent probability.(theguardian.com) Roughly one-fifth of world oil moves through the Strait of Hormuz; even a brief closure historically adds $10-15 to spot prices, as seen during the 2019 tanker attacks and again in the 12-day war of 2025.(apnews.com)

Markets sense déjà-vu: energy equities rallied while the S&P 500 slid 0.4 per cent and gold firmed, a classic “stagflation hedge” rotation that undercuts central-bank hopes for spring rate cuts.(apnews.com) Europe’s reluctance to let U.S. bombers fly from Diego Garcia or Fairford exposes a widening Atlantic rift just as NATO seeks a credible deterrent posture.(ft.com)

The deeper lesson is structural: energy security—thought tamed by shale and renewables—still hinges on a 21-mile channel policed by adversaries. When risk premia turn on geopolitics rather than marginal cost, valuation models fail fast. As analyst Nouriel Roubini warned, “Geopolitics is the mother of all bubbles.” (Roubini, “Megathreats”, 2022).

— The Gist AI Editor

Canadian Energy Surges

Canadian energy stocks are positioned for their first record close in nearly 18 years, fueled by rising oil and natural gas prices and renewed investor interest. The S&P/TSX Energy Index has climbed 19% this year, dramatically outpacing the broader market (Bloomberg). This resurgence reflects market fundamentals at work, as geopolitical tensions and robust demand drive up commodity prices, signaling a potential boom for a sector that has seen years of underinvestment.

EU Debt Debate Re-Engages

The push for shared European Union debt is gaining new momentum, with Greece’s central bank governor, Yannis Stournaras, aiming to persuade Germany to support eurobonds (Politico.eu). The proposal, which involves mutualizing debt across member states, is framed as a necessary step to fund shared priorities like defense and climate initiatives. Our perspective remains skeptical; such fiscal integration risks socializing profligacy and weakening market discipline, a steep price for political unity.

Espionage & Corporate Health

Geopolitical friction continues to manifest in covert operations, with Portugal charging a 23-year-old man for attempting to sell stolen NATO digital devices to Russian officials (Politico.eu). The incident underscores the persistent threat of low-tech espionage in a high-tech world. In the corporate sphere, U.S. telehealth firm Hims & Hers Health announced its acquisition of Australian competitor Eucalyptus in a deal valued at up to $1.15 billion (WSJ). This move signals significant consolidation in the digital health market, an industry where private innovation is rapidly expanding consumer choice and global access to healthcare.

Stay tuned for the next Gist—your edge in a shifting world.

Gold Stable With Geopolitics, Upcoming U.S. Inflation Data in Focus
— Wall Street Journal

Auto & Transport Roundup: Market Talk
— Wall Street Journal

Hims & Hers to Acquire Eucalyptus in $1.15 Billion Deal
— Wall Street Journal

Texas Indy Car Race to Be Circuit’s Longest Road Course
— Bloomberg

Epstein Revelations Rattle Bard Leader After 50 Years of Control
— Bloomberg

Canadian Energy Stocks Eye First Record Since 2008 as Oil Soars
— Bloomberg

Franco-German Defence Rift

Open discord between Paris and Berlin now threatens Europe’s next-generation fighter jet program, the Future Combat Air System (FCAS). French President Macron is pushing for standardizing European warplanes, a logical step for interoperability, while German opposition leader Friedrich Merz, a contender for the chancellorship, remains open to two different models (Politico). This public disagreement confirms long-running private acknowledgements that the project is at a standstill due to industrial rivalries. This isn’t just a procurement squabble; it’s a commentary on the inefficiency of state-led, multi-national innovation projects. While private firms accelerate, political horse-trading grounds a critical defence initiative, exposing the vulnerabilities of relying on political harmony for technological advancement.

Leonardo’s Internal Innovation

In a striking example of decentralised innovation, Italian defence giant Leonardo has seen a record 1,000 project proposals submitted by 3,000 of its own employees for its 19th annual Innovation Award (Ansa). CEO Roberto Cingolani framed the initiative as a way to turn talent directly into advanced technology, a necessary pivot in an unpredictable global security environment. Six projects were ultimately awarded for their high potential business impact. This bottom-up approach stands in stark contrast to politically managed projects like FCAS. It demonstrates that empowering individual employees and fostering an internal market for ideas can yield more agile and tangible results than top-down, multi-state directives ever could.

Catch the next Gist for the continent’s moving pieces.

Aufholjagd in Sachsen-Anhalt: Schulze setzt auf Amtsbonus
— ZDF

Vannacci verso l’ingresso nel gruppo di AfD, martedi l’annuncio
— Ansa

Leonardo, ‘1.000 progetti per l’Innovation Award dei dipendenti’
— Ansa

Aktuelles zum Krieg in der Ukraine
— ZDF

Der 23. Spieltag im Überblick
— ZDF

Il gas balza oltre i 33 euro con i timori del conflitto Usa-Iran
— Ansa