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Iranian Foreign Minister Abbas Araghchi said on Thursday that Iran is ready to fight US ground troops amid indications that the Trump administration is preparing to send forces into the country. Araghchi was asked during an appearance on NBC News if Iran was afraid of a US ground invasion. “No, we are waiting for them,” […]

BofA Sees Customer Gas Spending Jump 16%, But Discretionary Spending Holds Up The national average for 87-octane gasoline has remained above the politically sensitive $4-a-gallon level for two straight weeks after the largest monthly jump in AAA data going back two decades. The fuel shock has Wall Street analysts focused on whether surging pump prices will begin crowding out discretionary spending. Bank of America CFO Alastair Borthwick told analysts on a conference call earlier today that the fuel shock at the pump has not undermined overall consumer strength so far, though...

Trump Set To Suspend Jones Act To Help Tame Oil Prices One day after the Trump administration flip-flopped on using the Strategic Petroleum Reserve (SPR) - eventually deciding to release 172 million barrels to try and counter the rising price of oil, they're now planning to issue temporary waivers for a century-old maritime law, the Jones Act, that requires American-built ships to be used to transport goods between US ports, in yet another attempt to control crude.  Under the plan, 30-day waivers would be issued that would allow foreign tankers to help supply refiners on...