An anonymous reader quotes a report from Barron's: Walmart is signing a long-term contract to buy nuclear power for the first time ever, a promising sign that the industry's future is supported by more than just the AI data center boom. The retail giant agreed on Tuesday to buy power from a nuclear plant in Illinois owned by Constellation Energy for its operations in the area, including its stores and a high-tech warehouse in Illinois that stores and sorts perishable food.

Walmart will buy 176 megawatts of power from the plant over a 15-year period, or enough power to serve around 150,000 homes. The Walmart deal will allow Constellation to expand the capacity of the Illinois plant by 30 megawatts, a process known as an uprate, which can involve replacing older equipment and improving efficiency. Walmart, which has pledged to eliminate net carbon emissions from its U.S. operations by 2040, will also receive the environmental attributes associated with the nuclear energy, which generates electricity without carbon emissions. Further reading: Trump Admin Announces $17.5 Billion In Loans For 10 New Large Nuclear Reactors

An anonymous reader quotes a report from the Associated Press: The Trump administration is providing $17.5 billion to speed the development of 10 new large nuclear reactors to meet the skyrocketing power demand from massive data centers. Energy Secretary Chris Wright cited "tremendous interest" among developers of data centers that would buy the power, as well as utilities and energy companies. The nuclear plants could begin construction by 2030 and become operational in the mid-2030s, Wright and other officials said Tuesday. "This is the start," Wright said on a call with reporters. "We're going to move with the players that are ready to stand up and move quickly. Once that supply chain is up and running, do we think there will be dozens of these built going forward? I'd be very surprised if there were not."

Most U.S. nuclear power plants were built between 1970 and 1990. Only two new large reactors have been built from scratch in the United States in recent decades. Those two reactors, at Georgia Power Co.'s Plant Vogtle, were completed years late and billions of dollars over budget. The 10 new reactors will use the same design, Westinghouse's AP1000. Wright said the Plant Vogtle project struggled because of bad planning, supply chain problems and the COVID-19 pandemic. But, he said, the reactor design is "robust and sound."

Ancient Slashdot reader Mark Round writes: Longtime reader here (since mid-1999 -- Hot Grits! Oog the Caveman! Beowulf clusters!), and I can still remember posting back on Slashdot's own 5th anniversary. Time's rolled on: my own blog just turned 25, and it's now roughly 40 years since I first sat down at a computer. So I went digging through archive.org, old backups, and a box of ZIP disks, and wrote up a long look back at four decades of computing through the one website that's been my online home along the way.

It runs from my first 8-bit micro and a 1,200-baud modem through discovering the actual Internet at university (and burning far too many hours on Slashdot and sister sites like freshmeat.net), past gloriously pimped-out Enlightenment Linux desktops, all the way to the modern cloud-native world. Plenty of dodgy screenshots, terrible code, and fond memories of long-gone haunts like kuro5hin.org and Linux Coffee Talk along the way.

Canada has unveiled a national strategy to build up to 10 new nuclear reactors over the next 15 years as it seeks to double electricity-grid capacity by 2050. Energy Minister Tim Hodgson called it a plan for a "new civilian nuclear renaissance."

"If our goal is to double our grid and build a low-carbon economy in less than 25 years, there is no credible plan to do that without nuclear energy and the clean, reliable baseload power it provides," Hodgson said. "There is no credible plan for Canada to become an energy superpower if we choose not to build upon one of the strongest energy advantages we have." CBC News reports: The strategy calls for construction to start on two new large-scale reactors by 2035, for five more to be planned or under development by 2040 and for at least one reactor to be under construction outside Ontario by 2035. It also calls for a Canadian-made microreactor to be finalized by 2035 and deployed to a remote community by the late 2030s. [...] Right now, Canada has four nuclear power plants -- three in Ontario and one in New Brunswick -- which generate about 15 per cent of Canada's electricity.

A new proposed facility at the existing nuclear plant in Darlington, Ont., would see the first small modular reactor in the G7, capable of producing up to 300 megawatts per unit. Saskatchewan is also looking at the potential to bring small nuclear reactors online by the mid 2030s. The energy deal between Ottawa and Alberta also committed to collaborating on developing a strategy to build a nuclear power plant. Officials from Natural Resources Canada told reporters in a background briefing that construction of the reactors outlined in the new national strategy could cost more than $100 billion. The strategy does not say how Canada would pay for them, though an official pointed to the Canadian Infrastructure Bank and the Canada Growth Fund as possible funding sources. Hodgson said the strategy would double the 90,000 jobs in Canada's nuclear sector "over the coming decades."

The plan also looks to expand sales of Candu reactors to new export markets. It says the government wants to break into at least four new international markets by 2040 and "engage six to 10 new nuclear entrant markets over a 15-year horizon, cementing Canada as their partner of choice." Thirty Candu reactors currently operate around the world, including in South Korea, China, India, Argentina, Pakistan and Romania, and there are plans to build two more. [...] "Reactor exports are not transactional. They establish multi-decade partnerships, creating durable geopolitical and commercial relationships that advance Canada's broader foreign policy interests," the strategy says. "As Canada works to diversify its trading relationships and strengthen ties with middle powers, Candu can be a central instrument of that strategy."

An anonymous reader quotes a report from Ars Technica: Dozens of new robot arms have been installed at General Motors' flagship electric vehicle factory in Detroit -- even as 1,300 workers remain out of work following what was supposed to be a temporary layoff. The latest automation push has spurred union pushback over a potentially existential issue for automakers and their workers. General Motors installed approximately 50 robot arms at GM's Factory Zero plant in Detroit, Michigan, according to reporting by Crain's Detroit Business. Made by the Japanese robotics company FANUC, the robots are designed to help attach various components to vehicles during the assembly line process. But leaders at United Auto Workers (UAW), the primary US union for autoworkers, reacted with anger to the new robotic presence, given how GM has not yet called back any of the workers affected by supposedly temporary layoffs in March.

More than 1,000 union members are still "laid off indefinitely," James Cotton, president of UAW Local 22, told The Detroit News. He said that the company could bring some of those members back to work instead of installing the 50 robots. The temporary layoffs were preceded by permanent layoffs involving another 1,200 workers at GM's Factory Zero in October 2025. Many automakers, including Stellantis NV and Ford Motor Company, have deployed assembly-line robots, such as Fanuc robot arms, as they push to automate more of their US operations. Hyundai Motor Company plans to deploy Atlas humanoid robots made by Boston Dynamics -- which Hyundai acquired in 2020 -- to start working in the automaker's flagship EV facility in Georgia by 2028. "Technological development has the capability of making work safer for the working class and enabling workers to have a shorter work week without losing pay," said Andrew Bergman, a Local 22 member and union organizer who was among those laid off by GM. "But in the bosses' and billionaires' hands it's used to pad profits and lay off workers."

Last week, AMD was found to have stripped memory encryption from its consumer CPUs without any warning or notice. Now, following a wave of backlash on social media, the chipmaker has now reinstated the protection, though it still hasn't explained why the safeguard was disabled in the first place. Ars Technica reports: Following the revelation, social media was deluged by comments from AMD consumers decrying the move. They noted that AMD's quiet removal of TSME after supporting it for so long seemed underhanded. The move came solely as a result of firmware changes made in a recent update. With no physical changes required to silicon, continued support was largely, if not purely, a matter of will rather than a necessity required by changes to hardware. The critics called on AMD to reverse the move.

Over the weekend, AMD said it planned to do just that in a firmware update scheduled for release next month. More often than not, the chipmaker refers to TSME as Memory Guard. "Regarding certain non-PRO Ryzen 9000-series desktop processors, a BIOS option to enable Memory Guard was previously available but was removed in a recent update," AMD said in an email. "Based on valuable community feedback, we will reinstate this option in an upcoming BIOS release in July."

The company has yet to explain why it removed the protection. Critics speculate that AMD dropped it in an attempt to steer customers toward more costly CPUs. It's possible, though, that there were less nefarious reasons, such as the difficulty of continued support as chip designs changed. Another possibility is that AMD made the move for performance reasons. Encrypting and decrypting data in memory creates latency. Slowdowns are the enemy of gamers, one of the more popular customer segments using the 9000-line of Ryzen processors. Since many gamers already voluntarily disabled TSME and had little need for it in the first place, AMD may not have considered the change of much consequence.

Valve's new Steam Machine will launch June 29 starting at $1,049 and go up from there depending on the configuration. Although it costs considerably more than the PS5 ($599.99) and Xbox Series X ($649.99), "the value proposition for the Steam Machine is that it can play your library of Steam games you may have accumulated over years (or even decades), rather than just PlayStation games, and it's also a full Linux PC that you can customize to your heart's content," reports The Verge. "Valve also says that it's selling the Steam Machine for the cost of its components alone instead of subsidizing the price." From the report: You can now register your interest to buy a Steam Machine as part of a reservation system. To offer a fair playing field for people who want to buy one, Valve will randomize everyone in the queue on Thursday at 1PM ET. After that, anyone who registers their interest will be added to the end of the waitlist. The first emails giving people the opportunity to buy will go out on June 29th.

Valve will sell four configurations of the Steam Machine:
- A 512GB model for $1,049
- A 512GB model with a bundled Steam Controller for $1,128
- A 2TB model for $1,349
- A 2TB model with a bundled Steam Controller for $1,428

UC San Diego researchers are working with Google to build a private cloud from 2,000 retired Pixel Fold motherboards, demonstrating how discarded smartphones could provide useful, low-cost computing capacity. "The full smartphone cluster is expected to launch this fall," reports The Register. "Depending on how well the initial phase goes, we're told the cluster could grow even larger." From the report Once the phone's motherboards have been extracted from their shells, the researchers say that the chips hiding within remain more than potent enough to be useful for a variety of tasks. In many cases, the single-threaded performance of these chips is as good as, if not better than, what you'd find from a many-cored datacenter chip. The Pixel Fold smartphones, which will form the basis of the cluster, are powered by a Google Tensor G2 processor with two 2.85 GHz Cortex-X1, two 2.35 GHz Cortex-A78 and four 1.80 GHz Cortex-A55 Arm cores, a Mali-G710 MP7 GPU, and 12 GB of system memory. Early benchmarking using the SPEC suite suggests that 25-50 phones should deliver performance similar to that of a conventional server.

The major challenge, instead, is distributing workloads across multiple devices, each of which has a handful of cores of one or more varieties, and most have 8-12 GB of memory. UCSD researchers are approaching this challenge from a couple of different angles. The first is by targeting applications that can easily fit within a single device. The second is using Kubernetes to orchestrate container deployments across clusters of 25-50 phones. For this to work, the devices first need to be flashed with a Linux operating system suitable for the job. While Android makes for a great handheld experience, it is not intended for server duty. In the blog post, researchers note that Android includes functionality intended to stop rogue applications from chewing up excessive amounts of memory and draining your battery. In server context, these safety mechanisms are no longer necessary.

[Ryan Kastner, an associate professor of computer science at UCSD] told us this was by no means an easy task, but the team has made steady progress toward getting Linux running smoothly on these devices, including support for the phone's onboard GPUs. Access to some functionality, like the chip's integrated tensor processing unit, remains elusive. Clustering these devices will require networking the phones together. Normally these devices would connect over cellular or Wi-Fi, but at this scale, this not only isn't practical, but also has implications for security, he explained. Instead, the team will employ PCBs that both supply power and break out wired Ethernet networking.

The researchers suggest that many EdTech, grading, and research workloads commonly run by universities in the cloud are small enough to run on the cluster without issue. "The vast majority of these applications are within the capabilities of a single smartphone to host, with the standard grading backend running on small cloud instances," a blog post detailing the planned deployment reads. "Early experiments show that even a moderately-sized cluster of 20 phones is capable of supporting peak submission rates for a 75+ student class."

"There's a revolution in battery technology hiding in plain sight," reports The Wall Street Journal. "The 3-D printing of batteries has the potential to put energy storage inside any device.

"This will enable lightweight and long-lasting consumer gadgets, long-range military drones and even nanoscale robots." Almost all the innovations we regularly hear about — from cheaper, tougher electric-vehicle batteries to "Holy Grail" solid-state batteries — are about changing the chemistry of batteries. The promise of battery-tech 3-D printing (aka additive manufacturing) is simple: What if batteries could fill any available space, even structural elements of our gadgets, rather than always taking a rigid shape like a pouch or cylinder?

The new approach has obvious appeal. The entire airframe of a drone could be filled with energy storage for increased range. Smartglasses could have sleek battery-packed frames, so they look like everyday eyewear rather than "Revenge of the Nerds" props. One of the biggest advantages of 3-D printing is that it works with any battery, regardless of its cell chemistry. It could advance today's lithium-ion as well as emerging sodium-ion and solid-state tech... Some [startups] are trying to use 3-D printing to create efficiencies in existing battery manufacturing systems. A brave handful of startups are pursuing radical new designs and approaches. They're starting with defense applications, where cost and scale are less of an issue...

At Silicon Valley-based Sakuu... [r]ather than trying to 3-D-print whole batteries, the company is working on replacing one of battery manufacturing's biggest pain points, says Arwed Niestroj, Sakuu's chief operating officer, who is also a nuclear physicist and former head of Mercedes-Benz Research & Development North America. Existing battery assembly lines include football-field-long ovens for drying layers of material that have been dissolved in solvents. This requires a huge amount of energy and is a significant contributor to manufacturing costs, a big reason EV batteries aren't cheaper. Sakuu's process, under development for years, uses additive manufacturing to lay down key battery components without solvents, eliminating the need for ovens, says Niestroj.

Sakuu is currently working to commercialize this tech with a major battery manufacturer...

Electrek reports: Tesla wants to sell modular AI data center hardware, according to a new trademark application for a product called "Megapod." The filing describes a complete, self-contained computing system for AI workloads...

Tesla filed the "Megapod" trademark (serial number 99893717) with the U.S. Patent and Trademark Office this month, through its longtime IP counsel. It's an intent-to-use application, meaning Tesla is claiming the name for a product it hasn't launched yet. The goods-and-services description is unusually specific for a trademark. Megapod covers "modular data center hardware systems for artificial intelligence computing, comprised of computer servers, computer hardware for artificial intelligence data processing, networking equipment, power distribution units, and cooling systems." It also covers "self-contained modular computing hardware systems for artificial intelligence workloads," integrated platforms sold as a single unit — an enclosure bundling compute, power distribution, and cooling — and downloadable software to monitor, manage, and optimize those systems.

In plain terms: Tesla wants to sell a turnkey AI data center building block. Not a battery, not a chip on its own, but the full rack-and-room of servers, networking, power, and cooling that AI training and inference run on.
Tesla's offering would have to compete with Nvidia's liquid-cooled, rack-scale systems that simulates a giant GPU, the article points out. But "The bigger issue is that Tesla has no merchant compute-hardware business to build on." Tesla's own AI training cluster, Cortex at Gigafactory Texas, runs on roughly 67,000 Nvidia H100-equivalent GPUs. In other words, Tesla is one of Nvidia's customers, not a competitor selling alternative hardware... Where Tesla does have a real AI-data-center business is power, not compute. Its Megapack and new Megablock energy storage products are selling into AI data centers as grid buffers — Musk's own xAI has bought roughly $1 billion of Megapacks to keep its training runs powered. That energy-storage strength is the one credible thread here. A Megapod that bundles Tesla's power electronics, thermal management, and the enclosure — the "shell" around the chips rather than the chips themselves — would at least sit adjacent to a business Tesla actually runs.

Researchers developed an ultrasonic espresso process that uses high-frequency sound waves instead of hot water to produce espresso-strength coffee at room temperature. And, not only did coffee drinkers find it comparable to traditional espresso, but the brewing process cut energy use by up to 75%. An anonymous reader quotes a report from The Conversation: We have developed what we call an ultrasonic espresso: a room-temperature brewing process that uses high-frequency sound waves to extract the flavor, oils, aroma and caffeine from coffee grounds. The result is an espresso-strength coffee made in under three minutes, but needing far less energy than the conventional method. Saving up to 75% of energy by not heating the water is a minor benefit for home users or small coffee shops. But for companies making ready-to-drink coffee products at industrial scale, it could be very significant indeed. A concentrated room-temperature coffee could be used directly in bottled drinks, milk-based beverages or cold coffee products. It can also be shipped as a concentrate and diluted later. This would reduce not only energy use, but potentially processing time as well.

The key to the new process is ultrasound. These are sound waves above the range of human hearing. In our system, a small metal device called a transducer presses against the side of a traditional espresso basket and makes it vibrate rapidly. Those vibrations move through the water and coffee grounds. This creates a phenomenon known as acoustic cavitation. Tiny bubbles form and collapse in the liquid. When these bubbles collapse near coffee particles, they produce microscopic jets and forces that act a little like scrubbing brushes. They pit and fracture the surface of the coffee grounds, helping flavor compounds, oils and caffeine move into the water much faster than they normally would at room temperature. In other words, ultrasound helps us replace heat with mechanical energy.

[...] In earlier work, we used ultrasound to speed up cold brew dramatically. But the challenge in this project was different: could we produce something with the strength, body and intensity of espresso, without heating the water? To do that, we adjusted several variables. Brew ratio was one of the most important: how much water we used for each gram of coffee. Too much water and the drink becomes diluted; too little and extraction becomes difficult. Grind size also mattered. Finer grounds allowed us to extract flavor more rapidly. Finally, we tested how long the ultrasound should be applied. We found the sweet spot was about two-and-a-half to three minutes. Of course, making a concentrated coffee in the laboratory is one thing. The real test is whether people want to drink it. [...] For the espresso samples, participants could not reliably tell the traditional and ultrasonic versions apart. There were no significant differences in aroma, flavor, bitterness or overall liking. For filter coffee, the ultrasound version was actually preferred overall, with participants rating its bitterness more pleasantly.

Hyundai Motor Group is acquiring SoftBank's remaining 9.65% stake in Boston Dynamics for $325 million, "closing out SoftBank's last piece of Boston Dynamics and turning the Waltham, Massachusetts robotics company into a wholly owned Hyundai business," reports Startup Fortune. From the report: The price is $325 million for the remaining stake, according to the deal terms, and it follows the put option SoftBank retained when Hyundai bought control of Boston Dynamics in 2021. You should read that as a signal, not a footnote. Hyundai paid about $880 million for an 80% stake in Boston Dynamics in the 2021 transaction, valuing the company at roughly $1.1 billion at the time. SoftBank had bought Boston Dynamics from Alphabet in 2017, after Google had acquired the robotics lab in 2013. It was a strange ownership path for a company whose robots became famous on YouTube long before they became obvious commercial products.

That part is changing. At CES in Las Vegas on January 5, 2026, Hyundai and Boston Dynamics showed the electric Atlas humanoid robot in public, with the Associated Press reporting that the life-sized robot stood up, walked around the stage and was remotely piloted for the demonstration. The useful detail was not the stagecraft. It was the deployment plan. A production version of Atlas is expected to begin work at Hyundai's electric vehicle plant near Savannah, Georgia, by 2028. [...] If Hyundai can turn that into repeatable manufacturing value, the SoftBank exit will look less like a tidy cleanup and more like the moment Hyundai stopped borrowing a robotics future and decided to own it outright.

Rolls-Royce SMR has secured a multibillion-pound agreement to build three small modular reactors on Sweden's west coast, "marking a major step in the British engineering group's ambition to become a leading supplier of the technology in Europe," reports Euronews. From the report: Following a rigorous selection process that started in 2022, UK engineering giant Rolls-Royce's nuclear division, Rolls-Royce SMR, won the contract to build nuclear reactors for Sweden. As part of the deal, the group, selected by Videberg Kraft as its partner, will deliver three Small Modular Reactors (SMRs) to Sweden's west coast, at the Varo Peninsula. "The Videberg Project will build Sweden's first new nuclear power plant in more than forty years, supporting industries and households in southern Sweden," a press statement from Rolls-Royce said. The partnership with utility Vattenfall and developer Karnfull Next is seen as one of the most advanced opportunities for deployment outside of the UK.

[...] The European Commission considers small modular reactors (SMRs) to be a promising low-carbon technology that could help support the bloc's clean energy and energy security goals. In order to remove regulatory barriers, the EU's SMR strategy was adopted in March 2026 to accelerate the development and deployment of the technology across Europe. SMRs are smaller than conventional nuclear power plants, typically generating between 20 and 300 megawatts of electricity. At the upper end of that range, a reactor could produce around 7.2 million kilowatt-hours of electricity per day -- enough to power hundreds of thousands of homes. The International Energy Agency (IEA) estimates that more than 1,000 small modular reactors could be deployed worldwide by 2050 under a supportive policy scenario, requiring cumulative investment of around $670 billion.

An anonymous reader quotes a report from Ars Technica: A decade ago, AMD added a protection to its high-end CPUs to protect them against cold boot attacks and other types of physical exploits that siphon sensitive data out of the connected memory chips. Short for Transparent Secure Memory Encryption, TSME encrypts the entire contents stored in memory, making the data useless to physical attackers. Over time, AMD added TSME to lower-end processors, including the consumer version of its Ryzen chips, a CPU that costs less than the Pro version. Over the years, users of these lower-end chips have gotten used to the added security. Recently and without warning or notice, this lower-end line of AMD chips suddenly dropped the protection, and did so in a way that was impossible to detect on Windows machines and required a fair amount of technical work when using Linux.

AMD has yet to say why TSME worked on these CPUs, or even to confirm the change. AMD declined to answer questions sent by email other than to say TSME "is a security feature only applied to PRO CPUs as part of AMD PRO Technologies." The statement is the first known time the chipmaker has explicitly made this restriction public. [...] There's no indication that AMD ever advertised or marketed TSME as being available in consumer CPUs. AMD has long said that a related memory protection, Secure Memory Encryption (SME), is available only in the Pro and Epyc CPU tiers. SME is OS-managed. It uses a single key and allows the OS to selectively encrypt individual memory pages. TSME is firmware-managed. It encrypts all RAM with no OS involvement. When active, it provides protection against physical attacks, including cold boot exploits, DRAM interface snooping, and memory module removal. It activates silently when enabled in the BIOS, making it the more practically useful of the two protections. Ben Kilpatrick, a self-described "privacy-conscious Linux hobbyist," discovered that TSME had stopped working on his consumer Ryzen processor despite remaining enabled in the BIOS. He spent months investigating, persuaded MSI engineers to test multiple CPUs, motherboards, and firmware versions, and filed a public AMD bug report that traced the change to newer AGESA firmware apparently disabling TSME on consumer chips while retaining it on Pro and EPYC models.

"AMD engineers' comments, such as those mentioned above, and the years of TSME working just fine in the lower-cost tier processors, have understandably conditioned Kilpatrick and other users to reasonably regard it as an expected part of the chip package," reports Ars Technica. "AMD quietly removing it and providing no acknowledgment or explanation strikes these users as something of a betrayal."

Joe Fitzgerald, an expert in silicon-level security, said in an interview: "They could have not realized they did it leading to their cagey responses, or they could have done it intentionally and tried to get away with it, leading to the same cagey responses. But I really feel like an explanation should be in order, even if it was 'TSME was never supposed to be supported. We did ship some firmwares that erroneously enabled it, but you shouldn't use them since we can't guarantee it'll work properly.'"

"Asian stocks rallied Monday while oil prices tumbled," reports CNBC, "after the U.S. and Iran agreed to a peace deal aimed at ending nearly four months of conflict..." The strongest reaction was seen in energy markets. U.S. crude oil futures for July delivery were down 4.77% to $80.83 per barrel by 8:27 p.m. ET. Brent futures, the international benchmark, for August delivery traded about 4% lower to $83.77 per barrel. Asian equities surged. South Korea's Kospi jumped 5.1%, Japan's Nikkei 225 climbed 3.6%, and the broader Topix advanced 2.6%... The U.S. dollar index weakened 0.32% to 99.483, while the yield on the benchmark 10-year Treasury note fell 5 basis points to 4.423%, suggesting that investors were dialing back inflation concerns on easing energy prices. "The most immediate implication is a repricing of the inflation risk premium that markets have been carrying since the Strait closed," said Billy Leung, investment strategist at Global X ETFs...

Besides safe-haven Treasurys, gold also rose. "Gold is the interesting outlier here," Leung said. "In a clean risk-on trade, gold should be selling off as the geopolitical premium unwinds, but it is holding bid around $4,300, which tells you the market is not fully trusting the deal yet." Spot gold prices were up almost 2% at $4,302.19 per ounce. That skepticism reflects lingering uncertainty around the agreement, which remains unsigned and subject to implementation risks. [Josh Gilbert, lead Asia Pacific analyst at trading platform eToro] cautioned that "the deal isn't actually signed until June 19th, the details are still thin, and this conflict has shown more than once that headlines can turn on a dime."

Analysts at Commonwealth Bank of Australia also stressed that the oil outlook hinges on how quickly shipping and production can normalize. Vivek Dhar, head of commodities and sustainability research at CBA, expects Brent to fall to around $80 a barrel by year-end, assuming the Strait remains open and exports recover. However, he warned that damage to refining infrastructure, the presence of sea mines and uncertainty over tanker traffic could slow the return to normal operations. Even so, he said markets are likely to take comfort from the prospect that oil flows need only recover to around 60%-70% of pre-war levels to restore expectations of a global supply surplus.

For investors, the biggest implication will likely be what cheaper energy means for inflation and central banks. Lower oil prices ease pressure on households and businesses while reducing the risk of a broader inflation resurgence just as major central banks enter a busy week of policy meetings.
UPDATE: "A US official is rejecting Iran's assertion that it will receive billions of dollars in frozen funds before a planned 60-day negotiating period begins following Friday's signing of an agreement," reports CNN: The pushback came after Iran's deputy foreign minister, Kazem Gharibabadi, said the next phase of talks would depend on Washington first fulfilling several obligations, including releasing Iranian funds frozen abroad. The differing accounts underscore a significant gap between how the United States and Iran are describing what must happen before the next round of negotiations can move forward.