Oil gains after war talk
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 2 April 2026
⏱️ 5 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:07.6 | It's good to be with you on this final day of the trading week. Today is Thursday the 2nd of April. |
| 0:13.8 | I'm Julie Morgan. Oil prices are up again after President Trump said the country will strike Iran extremely hard over the next two to three weeks. |
| 0:23.9 | Oil prices had been down for the last two days as hopes of a potential de-escalation rose after President Trump hinted at ending the conflict soon. |
| 0:33.6 | As of the time of this recording, crude futures are up 7% to 107, and Brent crude futures are up 7.3% to 108 a barrel. |
| 0:43.3 | In a rare primetime address on Wednesday, Trump portrayed the Iran war as nearing success, saying U.S. forces had largely achieved their objectives, including crippling Iran's missile capabilities |
| 0:56.5 | and degrading its air force, navy and industrial base. He said the campaign would weaken Tehran's |
| 1:03.5 | proxies and block its path to nuclear weapons. Trump also signaled a potential escalation in military |
| 1:10.0 | action, saying the U.S. could intensify |
| 1:12.8 | strikes over the next two to three weeks and warning Iran would be pushed back to the stone |
| 1:18.1 | ages. At the same time, he left the door open to diplomacy, saying talks are ongoing. |
| 1:25.1 | Sleep number is down 21% in pre-market action. The company is seeking rescue financing |
| 1:31.3 | to prevent bankruptcy. In its annual report filed with the Securities and Exchange Commission last |
| 1:37.3 | month, the company warned that it had substantial doubt it could continue as a going concern |
| 1:42.7 | due to high debt, weak sales, and expected |
| 1:46.0 | financial covenant breaches. In its most recent quarterly results, the mattress manufacturer |
| 1:51.6 | reported an 8% decline in fourth quarter sales and a $32 million drop in gross profit |
| 1:58.1 | due to a $9.6 million inventory obsolescence charge. Over just the past |
| 2:04.4 | month, shares have lost more than 71% of their value. Sam's Club announced on Wednesday that it will |
| 2:12.0 | raise its annual membership fee by $10 to $60 for basic membership and $120 for its higher tier option. The price hike |
| 2:21.4 | will be the first from the retailer since it raised annual fees in October of 2022. The new price |
| 2:27.3 | will go into effect on the 1st of May. In a statement, Sam's Club noted that it adjusted membership |
... |
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