Biden versus Bastiat

Futures Slide But Off Session Lows As Oil Spikes Above $100 Ahead Of Trump's 10am Hormuz Blockade Stock futures are lower, but off their worst levels of the session, as Brent crude surged 7% to over $102 after Trump ordered a blockade of the Strait of Hormuz to take place at 10am ET. The moves look relatively contained given the breakdown of US-Iran talks, with strategists saying this is a moment to buy the dip. Goldman Sachs is kicking off the earnings season shortly with earnings that missed on FICC revenue, sending the stock...

IMO Draws Up Hormuz Evacuation Plan For 800 Ships Trapped In Gulf Tanker traffic through the Hormuz chokepoint remained muted as of Tuesday morning, with maritime movement still far below pre-US-Iran conflict levels. The ship backlog in the Persian Gulf has now swelled to a staggering 800 vessels, underscoring the scale of the disruption, while the International Maritime Organization is reportedly drawing up evacuation plans for stranded ships. Bloomberg quoted the Secretary-General of the IMO, Arsenio Dominguez, who stated on the sidelines of Singapore Maritime Week earlier today that the...

Israeli forces killed at least two Palestinians in Gaza on Monday, according to the Palestinian news agency WAFA, as the IDF continues its daily attacks and constant violations of the US-backed ceasefire deal. WAFA reported that one Palestinian was killed by Israeli army fire in the Zeitoun neighborhood of Gaza City and another was killed […]