The Theory of the Bottom 99%

Stocks Jump, Oil Tumbles After IEA Calls Extraordinary Meeting To Decide On SPR Release With oil reversing much of the overnight losses as we neared the start of US cash open trading, futures slumped and it felt like we were back to square one.  That's when the jawboning out of the G7 members - many of whom are already at their breaking point in terms of soaring input costs - decided to double down on the jawboning rhetoric from yesterday - and hinted strongly that an SPR release could be imminent.  The...

Oil prices hovered around $90 per barrel: "Seven nations are scheduled to meet Tuesday to discuss a possible joint release of stockpiles to help ease the supply disruption."

The head of US Southern Command (SOUTHCOM) made a surprise visit to Venezuela to meet with the interim government. “SOUTHCOM Commander Gen. Francis L. Donovan concluded a visit to Venezuela today for productive meetings with Venezuelan interim authorities,” a statement from SOUTHCOM posted on Thursday said. “SOUTHCOM is committed to advancing the National Security Strategy […]