Energy prices have jumped since the onset of clashes between Israel and Iran. Investors worry the conflict could have a big economic consequences.

Volatility has returned to the global oil market as the Israel-Iran attacks continue.Arash Khamooshi for The New York Times

Andrew here. Greetings from Cannes, France, where the Cannes Lions International Festival of Creativity, the advertising industry’s biggest gathering, kicks off on Monday. The A.I. debate is a huge issue, as we explained on Saturday.

There’s another topic that’s being discussed here. The U.S. government is considering approval for the merger of Interpublic and Omnicom — but only if the Madison Avenue giants pledge not to engage in political boycotting of any particular platforms when they consider buying ad space for their clients.

The Trump administration argues such boycotts are a restraint of trade and, perhaps, on free speech. In

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