Trump Says ‘War Is Over’ in Gaza Despite Israel Killing Over 600 Palestinians Since Ceasefire Deal Was Signed

Hormuz Bypasses Maxed Out: Saudi East-West Pipeline Hits Record 7 MMb/d, As UAE Fujairah Crude Loadings Reach Capacity The ramp up in Saudi Arabia's Hormuz-bypassing East-West pipeline has been nothing short of remarkable. Two days after we reported that flow through the pipeline which crosses Saudi Arabia east to west for oil flows (hence the name) and is also known as the Abqaiq-Yanbu pipeline for nat gas flows had doubled from roughly 1.5 million before the war, today Bloomberg updates on the latest flow numbers and it now appears that the...

Article 5 Looming: NATO Shoots Down Iranian Ballistic Missile Fired At Turkey There's looming fear that Trump's Operation Epic Fury is fast spinning into a broader regional war, even a possible WW3 scenario - though large powers like Russia and China are expected to remain on the sidelines.  Illustrating this potential, on Wednesday a ballistic missile launched from Iran and tracked across Iraqi and Syrian airspace before heading toward Turkish territory was shot down by NATO air defenses, according to Turkey's Defense Ministry. Open source file image: Launcher for Iranian Zolfaghar ballistic missiles NATO...

Oil Up, Stocks Down As War Rhetoric Rises, Deadlines Loom After a long weekend of kinetic and verbal escalation (and a strong payrolls print), and with President Trump reminded Iran that his deadline for a deal looms, it is no surprise that oil prices are higher in early trading... WTI topped $115... Near post-war highs... And despite the recent hope-filled decoupling of oil and stocks... ...S&P futures also weak, down around 0.7% in the early trading... Treasury futures and gold are lower with USD/JPY near 159.70. While the Iran conflict has established an ongoing state of caution...