Christine Lagarde to leave ECB before the end of her 8-year term

WTI Extends Gains As US Oil Product Exports Hit Record Highs, Huge SPR Release, Production Dips Oil prices are modestly higher this morning, erasing overnight losses on Trump's 'ceasefire extension' after Iran attacked three ships in the Strait of Hormuz. While headline roulette continues to drive oil prices incrementally, this morning's inventory/supply data from DOE will provide some color on how the API Crude -4.5mm Cushing +700k Gasoline -5.2mm Distillates -4.6mm DOE Crude +1.925mm Cushing +806k Gasoline -4.57mm - 10th weekly draw in a row Distillates -3.43mm - 4th weekly draw in a row Crude stocks unexpectedly saw a build last week...

China Condemns US Starting 'Vicious Cycle' Of 'Chaos' In Attacking Iran Chinese Special Envoy to the Middle East Zhai Jun has said at a briefing after his ​shuttle-diplomacy trip that included recent stops in Saudi Arabia, the United Arab Emirates and Kuwait that the US-Israeli operation against Iran must immediately cease or else a "vicious cycle" toward destabilizing the region and disrupt global trade would persist. "Should hostilities continue to escalate and the situation deteriorate further, the entire region will be plunged into chaos. The use of force will only lead to a...

Iran-Linked Hackers Breach FBI Director Kash Patel's Personal Email Account, DOJ Confirms Iran-linked hackers have claimed responsibility for breaching the personal email account of FBI Director Kash Patel, publicly releasing photographs of him, a purported resume, and excerpts of old emails. A U.S. Justice Department official has confirmed the compromise, marking the latest escalation in cyber tensions between the United States and Iran. The hacking group, known as the Handala Hack Team, announced the breach on its website and Telegram channel on Friday. The group posted images of a younger Patel...