The FT’s Gideon Rachman explains what the Strait of Hormuz’s closure means strategically for Iran, Italy’s UniCredit has launched a €35bn takeover offer for Commerzbank and China’s oil stockpile is put to the test as the strait remains closed. Plus, scientists have identified a potential new type of planet.

Mentioned in this podcast:

Why Hormuz will haunt us long after this war ends

Biggest Nato allies reject Trump’s Hormuz armada demand

UniCredit launches €35bn Commerzbank takeover offer

Iran war tests Xi Jinping’s plan to build China’s stockpiles

Hellish new planet identified beyond solar system

Note: The FT does not use generative AI to voice its podcasts

Today’s FT News Briefing was hosted by Sonja Hutson, and produced by Marc Filippino, Saffeya Ahmed, and Victoria Craig. Our show was mixed by Kent Militzer. Additional help from Michael Lello. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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Iran war tests China’s oil stockpile

FT News Briefing