Oil prices ‘could breach $100 a barrel within days’ amid supply disruption from Iran war

Global oil prices could breach the $100 (£74) a barrel mark within days, and reach $150 a barrel by the end of the month, without a solution ​to the severe disruption in crude flows through the strait ‌of Hormuz, Goldman Sachs has warned.Oil exports via the vital trade route linking the world’s biggest oil producers to buyers in the global market have fallen further than the US investment bank had initially expected after the US-Israeli attack on Iran a little over a week ago.Goldman Sachs had anticipated that flows of crude through the strait would fall to 15% of normal levels but Iran’s effective blockade on tankers passing through the narrow waterway mean that only 10% of oil cargoes that usually transit the trade route have been able to pass.The bank, an influential oil commentator, warned that its analysis of trade flows last week suggested the impact was 17 times larger than the peak April 2022 hit to Russia production after the Kremlin’s invasion of Ukraine, which pushed the oil price to $110 a barrel.“Based on these new data, developments and the size of the shock, we now think that oil prices would likely exceed $100 next week if no signs of solutions emerge by then,” it said in a note on Friday night

BrewDog sold Highland estate for knockdown price after abandoning its reforestation plans

The self-styled “punk” beer company BrewDog sold its Highland estate for a knockdown price after abandoning its efforts to plant Scotland’s “biggest ever forest” there.BrewDog’s co-founder James Watt claimed its Lost Forest project at Kinrara in the Cairngorms national park would cover a “staggering area” and capture tens of millions of tonnes of CO2 during its lifetime.The brewing company paid £8.5m for the estate in 2020. Watt said it would showcase the company’s efforts to make Brewdog carbon neutral by planting millions of trees, restoring degraded peatland and promoting ecotourism

Tech oligarchs reshape humanity while billionaires of old seem quaint

When Bill Gates became the first modern IT mogul to reach the apex of wealth and power in 1992, the world was a very different place. Gates joined the top 10 on Forbes magazine’s billionaires list alongside Japanese, German, Canadian, South Korean and Swedish billionaires, including those with family fortunes from Britain and America. A broad mix of industries was on the list: Retail and media, property management and packaging, an investment firm and a couple of industrial conglomerates. Their fortunes almost added up to $100bn – equivalent to about 0.4% of the US’s GDP that year

AI chatbots point vulnerable social media users to illegal online casinos, analysis shows

AI chatbots are recommending illegal online casinos to vulnerable social media users, putting them at increased risk of fraud, addiction and even suicide.Analysis of five AI products, owned by some of the world’s largest tech companies, found that all could easily be prompted to list the “best” unlicensed casinos and offer tips on how to use them.These operators, operating typically under the fig leaf of a licence from tiny jurisdictions such as the Caribbean island of Curacao, have been linked to fraud, addiction and even suicide.But tech firms appear to have few controls in place to prevent AI chatbots recommending them, drawing condemnation from the government, the UK gambling regulator, campaigners and a leading addiction expert.Some of the bots offered advice on bypassing checks designed to protect vulnerable people, while Meta AI, part of the social media group behind Facebook, described legally required measures to prevent crime and addiction as a “buzzkill” and a “real pain”

Ruthless Australia defeat India in Alyssa Healy’s last Test

Despite the final score in the series appearing a bit lopsided, it has been enthralling from the start. India showed what they can do in the T20 leg, giving Australia a bit of a shock by winning that T20 series two games to one. But Australia were dominant in the ODI series and got their campaign back on track. Having Healy back in the driver’s seat as captain seemed to make a difference, just steadying the ship and reminding them what they wanted to achieve.While the Test ended well inside three days and it would have been more exciting to have it push into the fourth day and be more of a contest, but getting a result in women’s Tests is always great, considering most are only allocated four days

‘I’m just very sorry’: hometown heartbreak as Oscar Piastri crashes out before Australian Grand Prix begins

Sombre, pale and with eyes hidden by the brim of his cap, Oscar Piastri said sorry. The home favourite and one of the world’s fastest had just had a driver’s worst day, putting his car into the wall before the race had even begun.His first thoughts were for Melbourne’s motorsport fans who had filled Albert Park with orange, green and gold. “I’m just very sorry, obviously, for everyone that came out and wanted to support me,” Piastri said.The season is just a race old, though new regulations have already tested teams and drivers