Oil Soars Over 10% In OTC Trading, Whether That Sticks Depends On How Long The War Lasts

China-US Trade Talks End In Paris As Doubts Grow Over Trump-Xi Summit Update (0911ET):  The Hong Kong-based South China Morning Post has published an update on the sixth round of U.S.-China trade talks, which concluded moments ago in Paris. SCMP's title for the update is rather ominous: "China and the US end trade talks as doubts form over Trump visit." The report states that both sides discussed a possible extension of existing tariff and non-tariff measures, as well as bilateral investment. China's top trade negotiator, Li Chenggang, said the two sides held "deep, frank,...

Futures Slide After Bond Yields, Oil Prices Jump Around The Globe Futures are lower, but off their overnight lows as markets focus on soaring global yields after US/Iran talk progress remains stalled (but at least armed hostilities did not resume contrary to some speculation). Yields also spiked on rising oil prices, concerns of an extra budget in Japan and continued political chaos in the UK. As of 7:00am ET, S&P futures are -0.5%, while Nasdaq futures drop 0.3%; semis are bid, Mag7 are mostly lower ex-NVDA which reports earnings this...

Russia To Stop Kazakh Oil Flows To Germany Via Druzhba Pipeline After several weeks of the main oil artery into Europe being halted - perhaps as Ukraine awaited the outcome of the Hungary election and the greenlighting of Europe's €90 billion loan to Kiev - Zelenskyy stated the Druzhba oil pipeline will be ready to ship Russian oil again. There is just one problem: Russia said it would halt halt Kazakh crude-oil shipments to Germany through the major Druzhba pipeline next month after reporting "technical issues."  The move would deal a major blow...