Oil Jumps After Explosion And Massive Fire At One Of The Largest US Oil Refineries

IEA Delivers No SPR Action After Extraordinary Meeting As Crude Jawboning Mania Enters Day Two Update (1514ET):  For a second straight day, G-7 leaders attempted to push crude prices lower with headlines about an "emergency meeting" to discuss a possible Strategic Petroleum Reserve (SPR) release aimed at containing Brent and WTI crude prices. However, by late afternoon in New York, the Financial Times reported that the International Energy Agency (IEA) had concluded the meeting without reaching a decision on a coordinated release of crude stockpiles. Today's slide in Brent and WTI was...

Senate Majority Leader John Thune said that any strikes on Iran should be aimed at causing regime change in Tehran.  “In my view, if you’re going to do something there, you better well make it about getting new leadership and regime change,” the Senator said on Thursday. “If you’re going to take some sort of […]