US Launches Three More Airstrikes in Somalia

UBS: Trump's Historic Military Budget Request Could Boost Beaten-Down Defense Stocks U.S. defense stocks showed signs of stabilizing in April after tumbling since Operation Epic Fury began in late February and sustaining a Mach bloodbath. The improvement followed Friday's White House proposal to lift military spending sharply, to roughly $1.5 trillion in 2027.  UBS analyst Allyson Gordon said Monday morning that the White House budget request "should help sentiment," which has deteriorated since the U.S.-Iran conflict began. Last week, Gordon asked, "Why is U.S. defense performance lackluster?" Earlier, the analyst said: Defense...

US Oil Exports Soar To New Record High As Inventories Tumble, SPR Drained Most Since October 2022 One week ago we lamented that the record oil inventory drawdown, which has seen over 250 million barrels drained from storage since the start of the war, has not led to higher oil prices (for those who missed it, Goldman forecast that global visible oil inventories are likely to reach record-low levels even in an optimistic scenario where Hormuz flows start to recover by the end of April). Moments ago the already precarious inventory picture...

President Trump has made clear that American forces will still be “hanging around” the Persian Gulf area with an eye on Iran, while demanding that the Strait of Hormuz be opened to global energy transit once again.  Trump has vowed to keep troops positioned for a fight “until such time as the REAL AGREEMENT reached is fully complied […]