FT News Briefing Corporate America grapples with huge oil price swings
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Mar 11, 2026 
Antoine Gara, FT deals reporter specializing in private credit and BDCs, and Miles McCormick, U.S. economics correspondent focused on energy, discuss huge oil price swings. They explore how crude volatility hit trucking, farming, airlines and shipping. They cover soaring tanker insurance, why fuel costs pass to consumers, and why investors are fleeing private credit funds.
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Oracle's Big Revenue Beat And Heavy Borrowing
- Oracle beat expectations with 22% revenue growth to over $17bn and raised next-year revenue guidance.
- Net income met forecasts while capital expenditures rose 50% and long-term debt climbed to $143bn, highlighting heavy investment and borrowing.
Strait Of Hormuz Posts Trigger Wild Oil Swings
- Brent crude swung from about $80 to $90 after a deleted social post claiming the US Navy escorted a tanker through the Strait of Hormuz.
- The strait carries 20% of global oil, so ambiguous official statements can trigger large, fast price moves.
Energy Price Pain Likely To Last Years
- The US Energy Department projects petrol and diesel prices may not return to pre-war levels until 2027, extending cost pressure on US businesses.
- That prolonged elevated fuel outlook implies sustained input-cost increases for many sectors.