Trump Hosts King Charles Amid Strained UK Ties| Balance of Power: Early Edition 4/28/2026

Watch on YouTube ↗  |  April 28, 2026 at 19:42  |  43:58  |  Bloomberg Markets
Speakers
Ed Ludlow — Co-Host, Bloomberg Technology
Mike McGlone — Senior Commodity Strategist, Bloomberg Intelligence

Summary

The episode covers King Charles' visit to Washington amidst US-UK tensions, but the market-relevant segments focus on AWS's new OpenAI partnership (bullish for Amazon) and a bearish oil thesis from Mike McGlone predicting WTI crude at $50 by midterms. Also discussed: Canada's sovereign wealth fund, critical minerals, and defense spending. Oil markets remain volatile due to the Iran war and UAE leaving OPEC.

  • King Charles addresses Congress amid strained US-UK relations.
  • AWS announces OpenAI frontier models will be available on its cloud platform, ending Microsoft's exclusivity.
  • Ed Ludlow highlights that AWS demand for AI compute is still outstripping supply.
  • Mike McGlone predicts WTI crude will fall to $50 per barrel by the midterms due to supply shifts and demand destruction.
  • UAE leaves OPEC, adding to supply-side pressure on oil markets.
  • Ontario Finance Minister Peter Bethlenfalvy discusses Canada's new sovereign wealth fund and critical minerals endowment.
  • Canada is increasing defense spending and investing in domestic manufacturing.
  • US-Canada trade tensions continue ahead of USMCA renegotiation.
Trade Ideas
Ed Ludlow Co-Host, Bloomberg Technology 8:06
AWS demand outstrips supply, bullish
AWS is the number one cloud provider and will benefit from the end of Microsoft's exclusivity with OpenAI, making OpenAI's frontier models available on AWS. This creates a one-stop shop for customers, and demand for AI compute is still outstripping supply, which is bullish for Amazon's cloud business and overall stock.
AMZN MED
Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 31:48
WTI crude to $50 by midterms
The global oil price-making power has shifted to the Western Hemisphere, centered on the U.S., which is accumulating surplus crude. The UAE leaving OPEC adds further supply, while demand destruction is occurring. As a result, WTI crude will fall to $50 per barrel by the midterm elections.
WTI HIGH
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This Bloomberg Markets video, published April 28, 2026, features Ed Ludlow, Mike McGlone discussing AMZN, WTI. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ed Ludlow, Mike McGlone  · Tickers: AMZN, WTI