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WTI Extends Gains, Shrugs Off SPR Release Amid Crude Build, Dip In US Production
WTI Extends Gains, Shrugs Off SPR Release Amid Crude Build, Dip In US Production
Oil prices are higher this morning, shrugging off the well-telegraphed (and practically useless) SPR release.
"Oil prices remain volatile and risk sentiment fragile and trading is on the headlines and rapidly evolving conflict in the Middle East," noted Neil Wilson, Saxo UK investor strategist.
And while, the main drivers of crude prices remain more global, the domestic supply and demand situation remains noteworthy based on its impact on gasoline (pump) prices.
API
Crude -1.7mm (+1.1mm exp)
Cushing
Gasoline -1.8mm
Distillates -2.3mm
DOE
Crude +3.82mm (+1.1mm...
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May 9, 2026 / Tyler Durden
Caught On Tape: California Billionaire Tax Architect Admits Wealth Confiscation Could Go Even Further
Caught On Tape: California Billionaire Tax Architect Admits Wealth Confiscation Could Go Even Further
One of the co-authors of California’s controversial 'one-time' tax on billionaires appeared to suggest that the levy could extend beyond a single imposition.
Marxist economics professor Emmanuel Saez, who hails from France, made the comment during a Tuesday debate against economist Arthur Laffer at the University of California, Berkeley.
“I don’t think it’s going to be a one-time tax. Because you can’t surprise billionaires more than once,” Saez said. "Even then, maybe some of them were expecting something...
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Jun 16, 2026 / Tyler Durden
China Revives Heavy Naval Firepower With New 155mm Gun That "Could Support An Attack On Taiwan"
China Revives Heavy Naval Firepower With New 155mm Gun That "Could Support An Attack On Taiwan"
As modern naval combat increasingly relies on aircraft, missiles and unmanned systems, China is investing in a capability many navies have largely moved away from: heavy naval artillery, according to South China Morning Post.
Recent reports indicate that the PLA Navy is testing a new 155mm naval gun, a calibre larger than any main gun currently in active naval service. The weapon has been observed aboard the experimental vessel Wu Yunduo, which appears to have...
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May 19, 2026 / Dave DeCamp
Senate Advances War Powers Resolution Meant To End Trump’s War With Iran
The Senate on Tuesday voted to advance a War Powers Resolution meant to bring an end to President Trump’s war against Iran as he is threatening to restart the full-scale bombing campaign. The legislation, which would direct the removal of US forces engaged in the blockade and other hostilities against Iran that haven’t been authorized […]
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