The Friday Review
What we are reading:
Seven reads to close out the week, spanning tariff disputes, sanctions leaks, sovereign bets gone wrong, and are World Cup tickets actually about to drop?
🛢️ Iran has so much unsold oil it's storing crude in derelict tanks. WSJ on what that glut reveals about the pressure building inside the world's most sanctioned energy market. https://www.wsj.com/world/middle-east/iran-is-flooded-with-so-much-unsold-oil-that-its-stashing-it-in-derelict-tanks-ed8e62b1
🪵 A plywood smuggling ring, a building products giant, and years of tariff fraud that finally unraveled. WSJ on how trade evasion reaches surprising corners of the economy. https://www.wsj.com/us-news/law/the-plywood-smuggling-ring-that-ensnared-a-building-products-giant-6ad5968e
⚖️ Oaktree is suing BJ's, claiming the retailer reneged on a deal to pass tariff refunds through to suppliers. FT on a test case for how trade relief actually flows through the supply chain. https://www.ft.com/content/bdbfeee1-6780-4df7-9c42-34b9bc07f233?syn-25a6b1a6=1
🤖 AI has rattled the market for software company loans. Vertical and cybersecurity exposure held up; horizontal software and dev tools took the hit. WSJ on investors picking winners and losers. https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-27-2026/card/breaking-down-ai-s-impact-on-software-loans-YTimor9ZJPxd4qoNANbO
⛳ After burning through $5 billion and four years, Saudi Arabia's PIF is pulling its funding from LIV Golf at the end of the 2026 season. NYT on what the retreat says about the limits of sportswashing as strategy. https://www.nytimes.com/2026/05/01/world/middleeast/saudi-arabia-spending-sports-liv-golf.html
🏟️ Certain World Cup final tickets are reselling for over $2 million but others on the primary market are going unsold. AP on how dynamic pricing and an uncapped resale market turned the world's game into a tradable asset class. https://apnews.com/article/world-cup-tickets-9a5a713fabdd0ec3743222e5b6c8a384
Stay thoughtful. Have a great weekend.